USDJPY Daily Forecast Apr 13 2017

USDJPY: Bearish, Sees Further Weakness!

USDJPY: Bearish, Sees Further Weakness!

Outlook in USDJPY remains on the downside as long as 109.78 levels (broken support turned resistance) holds on a daily closing basis, support comes at the 108.77 levels. A halt is likely and a reversal may occur, however; a cut through that level would open 107.90, further down, support stands at the 106.85 levels.

On the upside, immediate resistance comes at the 109.78 levels, above that level sees recovery threats to the 110.93 levels (main) before the next falling…

Conclusion: The USDJPY continues to face downside threats below the 110.93/109.78 levels even in the case of a corrective recovery…