USDJPY Daily Forecast Aug 09 2016

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“USDJPY: Bearish Despite Recovery Attempts”

Outlook in USDJPY has turned neutral with risk to the downside, resistance comes at the 102.65 levels, a failure to hold above the 102.65 levels on a daily closing basis could mean a return to the 101.85 levels, a cut will restore the downside momentum and open the 100.50 levels, further down support comes at the 98.75 levels.

On the upside, above 102.65 faces recovery risk to the 104.00 levels, further upside, resistance stands at the 105.88 levels.

Conclusion: The USDJPY continues to face downside threats below the 101.95 levels…

USDJPY Daily Forecast Aug 09 2016

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