USDJPY Daily Forecast Dec 19 2014

Japan652 min
Japan652 min

Outlook in USDJPY has turned to the upside as long as 115.55 support holds on a daily closing basis , resistance comes at the 118.85 levels , a break is needed to resume the upside offensive , If seen , the pair will recapture the 121.83 levels , a halt could be seen , but a break would open 123.00 levels ahead of the 124.00 levels .

On the downside , a rejection from the 118.85 levels could mean a retest tot he the 116.28/115.55 levels before the next rise , however; losing the 115.55 levels on a daily closing basis will reverse risk towards the 114.00 levels ahead of the 112.50 levels.

In all , as long as 116.28/115.55 support holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 118.85 levels ahead of the 121.83 levels , below 115.55 will reverse risk towards the 114.00/112.50 levels .

Intraday : As long as 117.82 support holds on a 4 hour closing basis , outlook remains bullish towards the 118.90/120.00 levels , above 120.00 will open 120.90/121.83 levels , below 117.82 will turn outlook neutral for retesting 116.28/115.55 before the next rise .

 

USDJPY Daily Forecast Dec 19 2014

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