USDJPY Daily Forecast Feb 03 2017

USDJPY Remains Bearish Below 113.95

USDJPY Remains Bearish Below 113.95

Outlook in USDJPY remains on the downside as long as 113.95 resistance holds on a daily closing basis, support comes at the 112.60 levels ahead of the 111.35 levels (main). A halt is likely and a reversal may occur, however; a cut through the 111.35 would open 109.78, further down, support stands at the 107.90 levels.

On the upside, resistance comes at the 113.95 levels, above 113.95 will turn outlook neutral and bring corrective recovery to the 115.50/116.33 levels before the next falling…

Conclusion: The USDJPY continues to face downside threats below the 113.95 levels with risk to the 112.60/111.35 levels, above 113.95 faces corrective threats to the 115.50/116.33 levels…

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