USDJPY Daily Forecast Feb 08 2017

USDJPY, Bearish Eyes Further Downside...

blank

USDJPY, Bearish Eyes Further Downside…

Outlook in USDJPY remains on the downside as long as 113.95/113.46 resistance holds on a daily closing basis, support comes at the 111.35 levels. 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 the112.60 levels ahead of the 113.46/ 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 113.95/113.46 levels with risk to the 111.35 levels, above 113.95 faces corrective threats to the 115.50/116.33 levels…

blank

MARKET DATA

UPCOMING ECONOMIC EVENTS