USDJPY Daily Forecast Dec 17 2015

blank

Short-term outlook in USDJPY remains neutral with risk to the downside, immediate resistance comes at 122.19 where rejection is very likely, (Note that the pair closed yesterday at the 122.19 levels) however; further upside will open main resistance at the 123.03 levels…To reverse threats – completely – to the upside, a clear break above the 123.03 levels is needed, otherwise, risk will remain to the downside even in the case of a recovery….

On the downside, support comes at the 121.05 levels, a cut will turn the focus on the 120.33 levels, further down, support comes at the 119.45 levels…

Conclusion: The USDJPY continue to face downside threats below the 123.03/122.19 levels even in the case of a recovery…

Note:(Minor support comes at the 121.63 levels)…

USDJPY Daily Forecast Dec 17 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS