USDJPY Daily Forecast: February 26 2016

The USDJPY had a bullish momentum yesterday and hit 113.16 earlier today. The double bottom and Doji/Pin bar formation I showed you yesterday gave us a valid bullish signal. The bias remains bullish in nearest term testing 114.00 – 115.00 area. Immediate support is seen around 112.60. A clear break below that area could lead price to neutral zone in nearest term testing 112.00 area. On the downside, we need a clear break below 110.96 to continue the bearish scenario targeting 108.00 – 107.00 region.