USDJPY Daily Forecast: May 15

USDJPY Forecast
The USDJPY had a moderate bullish momentum yesterday but still trapped inside the range area as you can see on my daily chart below. The bias remains neutral in nearest term. Overall I still prefer a bullish scenario but need a clear break above 110.05 to resume the bullish phase testing 110.50 or higher. Immediate support is seen around 109.40. A clear break below that area could trigger further bearish pressure testing 109.00 area but key support remains at 108.50.