USDJPY Daily Forecast: March 04 2016

The USDJPY was indecisive yesterday. The bias remains neutral in nearest term. Immediate support is seen around 113.15. A clear break below that area could trigger further bearish pressure testing 112.65/30 area. Immediate resistance is seen around 113.75. A clear break above that area could trigger further bullish pressure testing 114.25/55 area. Overall price is still in a bullish correction phase after formed a double bottom formation as you can see on my daily chart below. Fundamental focus today will be on the US NFP data.