USDJPY Daily Forecast Aug 12 2016

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USDJPY: Bearish Despite Recovery Attempts !

USDJPY: Outlook in USDJPY remains 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 101.50 levels, a cut will restore the downside momentum and open 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 102.65 levels…

Notes: Minor support (H4-basis) comes at the 101.66 levels ahead of the 101.16 levels.

USDJPY Daily Forecast Aug 12 2016

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