USDJPY Daily Forecast Feb 12 2015

Japan652 min
Japan652 min

Outlook in USDJPY remains on the upside as long as 119.21/119.85  support holds on a daily closing basis , resistance comes at the 120.70 levels ,  a halt is likely but a break would open 121.50/122.20 next , further upside will target the 123.00 levels..

On the downside , support comes at the 119.85 levels ahead of the 119.21 levels (main) , losing the 119.21 level on a daily closing basis will bring a corrective pullback above the 118.40/117.13 levels before the next rise..

In all , as long as 119.85/119.21 support holds on a daily closing basis , outlook in USDJPY remains on the upside towards the  120.70 levels ahead of the 121.50/122.20 levels. Losing the 119.21 levels on a daily closing basis will reverse risk to the downside and bring a corrective pullback above  the 118.40/117.13 levels before the next rise..

 

USDJPY Daily Forecast Feb 12 2015

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