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Daily Technical Analysis: USDJPY

The USDJPY continued its bearish momentum last week, broke below the daily EMA 200 and 111.45 key support as you can see on my daily chart below. This fact gives us further confirmation of bearish continuation scenario after formed double top formation and bearish pin bar at 114.50 as you can see on my daily chart below. The bias is bearish in nearest term testing 110.25/00 and the major trend line support located around 119.00/50 region. Immediate resistance is seen around 111.45. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.

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