USDJPY Daily Forecast Aug 20 2014

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The USDJPY maintained a  bullish momentum yesterday  , printed support  at the 102.51  levels. This development leaves the pair targeting the 103.45  levels , a halt is likely , but break of the 103.45 levels would open 104.12  next , further upside will aim the 104.80  levels.

On the downside ,support comes at the 102.71  levels ahead of the 102.51 levels (main) , losing the 102.51 levels on a daily closing basis will reverse risks towards the 102.13/101.50  levels before the next possible  rise..

In all , as long as 102.51  holds on a daily closing  basis , outlook in USDJPY remains  on the upside towards the 103.45/104.12  levels , below 102.51 will reverse risks towards the 102.13/101.50  levels….

Note that break of the 102.92 on a daily closing basis , will make 102.92 serve as strong support………

 

USDJPY Daily Forecast Aug 20 2014

 

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