USDJPY Daily Forecast: May 08

USDJPY Forecast
The USDJPY was indecisive yesterday. The bias remains neutral in nearest term. Overall I still prefer a bullish scenario at this phase but need a clear break at least above 110.05 to resume the bullish run testing 110.50 or higher. Immediate support is seen around 108.50. A clear break and daily close below that area would confirm the false breakout (above D1 EMA 200) bearish scenario testing 107.85 before targeting 106.60 region.