USDJPY Daily Forecast: May 16

USDJPY Forecast
The USDJPY had a significant bullish momentum yesterday, broke above the range area as you can see on my daily chart below. My bullish mode is now reactivated. The bias is bullish in nearest term testing 111.00 – 111.50 region. Immediate support is seen around 110.00 area. A clear break back below that area could lead price to neutral zone in nearest term testing 109.50 area but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy.