USDJPY Daily Forecast Apr 07 2017

USDJPY: Consolidates Around Support!

USDJPY: Consolidates Around Support!

As long as 110.44 support holds on a daily closing basis, the USDJPY remains in recovery mode and further upside could be seen, immediate resistance comes at the 111.47 levels, a break will turn the focus on the 112.55 levels, further upside, resistance stands at the 113.55 levels.

On the downside, support comes at the 110.44 levels,  a clear break below that level will restore the downside momentum and open the 109.78/108.77 levels ahead of the 107.90  levels…

Conclusion: The USDJPY continues to face recovery threats above 110.44 levels despite recent fall…