USDJPY Daily Forecast Dec 11 2015

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Outlook in USDJPY remains on the downside as long as 122.20/123.03 resistance holds on a daily closing basis, support comes at the  120.33 levels, a halt is likely, but a cut would open 119.45 next, further down, support comes at the 118.80 levels.

On the upside, resistance comes at the 122.20 levels ahead of the 123.03 levels, above 123.03 will reverse risk to the upside towards the 123.78/124.50 levels…

Conclusion: The USDJPY continues to face downside threats below the 123.03 levels, even in the case of a recovery…

USDJPY Daily Forecast Dec 11 2015

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