USDJPY Daily Forecast: May 09

USDJPY Forecast
The USDJPY had another indecisive movement yesterday, printed another Doji on daily chart. Price traded higher earlier today in Asian session hit 109.65. The bias is bullish in nearest term but note that we need a clear break above 110.05 to resume the bullish phase targeting 110.50 or higher. Immediate support is seen around 109.35. A clear break below that area could lead price to neutral zone in nearest term testing 109.00 region but key short-term support remains at 108.50 area which need to be clearly broken to the downside to confirm the false breakout (above D1 EMA 200) bearish scenario testing 107.85 before targeting 106.60 region.