USDJPY Daily Forecast Apr 07 2015

Japan652 min
Japan652 min

Outlook in USDJPY remains neutral with risk to the downside as long as 120.16 resistance holds on a daily closing basis , support comes at the 119.00/118.33 levels , a halt is likely but a cut would open 117.75 /117.00 next , further down will target the  115.85 levels .

On the upside , resistance comes at the 119.58/120.16 levels (main) , break of 120.16 levels is needed to signal short term bottoming , If seen focus will be on the 120.90 levels ahead of the 122.00 levels , further upside will pave the way towards the 123.00/124.00 levels…

In all , as long as 120.16 resistance holds on a daily closing basis , short term outlook in USDJPY remains on the downside towards the 118.33 levels ahead of the 117.00 levels , a clear break above the 120.16 levels will restore the upside momentum and open the 120.90/122.00 levels …

 

USDJPY Daily Forecast Apr 07 2015

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