USDJPY Daily Forecast Aug 05 2014

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Outlook in USDJPY remains cautiously on the upside ,  resistance comes at the 103.11 levels , a halt is likely , but break of the 103.11 levels on a daily closing basis is needed to resume the upside offensive , If seen , the pair will target the 104.12 levels……further upside will aim the 104.83/105.43 levels…..

On the downside , support comes at the 101.70 levels ahead of the 101.40 levels ( main) , below 101.40 will reverse risks towards the 100.80/100.00 levels………

In all , as long as support 101.40/101.70  holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 103.11 levels and possible higher towards the 104.12 levels ,below 101.40 will reverse risks towards the 100.80/100.00 levels……..

 

USDJPY Daily Forecast Aug 05 2014

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