USDJPY Daily Forecast: May 24

USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 109.55 and hit 109.38 earlier today in Asian session. The bias remains bearish in nearest term as a part of the bearish pin bar scenario targeting 108.50 support area. Immediate resistance is seen around 110.00. A clear break above that area could lead price to neutral zone in nearest term testing 110.50 area but key resistance remains around 111.50 which need to be clearly broken to the upside to invalidate the current bearish consolidation phase and reactivate my bullish mode testing 112.75 area.