USDJPY: Outlook Turns Higher But With Caution!

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As long as 109.23 support holds on a daily closing basis, the USDJPY remains on the upside to the 111.04 levels, a halt is likely and a reversal may occur, however; a breakthrough that level would open 112.18 levels, further upside resistance at the 113.15 levels.

On the downside, a failure to take out the 110.24 levels could mean a return to the 109.23 levels where another rise is likely, below that level will reverse risks to the downside to the 108.12/107.35 levels.

Conclusion: The USDJPY continues to face upside threats above the 109.23 levels but with caution…

USDJPY Weekly Forecast

Forex Weekly Forecast Sept 11 2017

EURUSD, Bullish Eyes The 1.2357 Levels! The EURUSD continued its bullish momentum last week, bottomed at the 1.1867 levels and topped at the 1.2091 levels. This development leaves the pair targeting the 1.2357 levels, a halt is likely and a reversal may occur, however; a break would open 1.2569 levels, further upside, resistance comes at […]

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