USDJPY Daily Forecast Aug 04 2017

USDJPY: Bearish But Hesitates Ahead Of Key Support!

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USDJPY: Bearish But Hesitates Ahead Of Key Support!

Outlook in USDJPY remains on the downside as long as 110.82 resistance holds on a daily closing basis, support comes at the 109.80 levels, a cut through that level would open 109.10 levels, further down, support stands at the 108.35 levels.

On the upside, resistance comes at the 110.82 levels, above that level sees a recovery risk to the 111.32 levels before the next falling, further upside will extend recovery to the 112.18 levels.

Conclusion: The USDJPY continues to face downside threats below the 110.82 levels.

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