USDJPY Daily Forecast Apr 05 2018

USDJPY: Bullish Eyes The 107.75 Levels!

USDJPY: Bullish Eyes The 107.75 Levels!

As long as 106.60 support holds on a daily closing basis, the USDJPY remains on the upside to the 107.00 levels where a break will aim the 107.75 levels, a halt is likely and it may test 107.00/106.60 levels before attempts to push higher to the 108.48 levels, anyway; above 108.48 will look for the 109.30 levels ahead of the 110.20 levels.

On the downside, a rejection from the 107.00 levels could mean a return to the 106.60 levels, it may turn higher from here but if this fails to happen it will decline further to the 105.68/105.32 levels where rebound is likely, below 105.32 sees a fall risk to the 104.62/104.28 levels.

Conclusion: The USDJPY sees upside threats above the 106.60 levels with a risk to the 107.00/107.75 levels, below 106.60 sees a pullback threats to the 105.68/105.32 levels.

Note: According to weekly timeframe, we see the riseĀ from 104.62 as a corrective recovery to the 107.30/108.00 levels where rejection is likely, stability below this level on a weekly closing basis should push it back to the 105.50 levels before the next move, above 108.00 will aim the 110.50 levels where a fall to the 107.00 levels is very likely?!!!