USDJPY Daily Forecast Feb 24 2017

USDJPY, Bearish With Risk To The 111.90 levels...

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USDJPY, Bearish With Risk To The 111.90 levels…

The USDJPY continued its bearish momentum yesterday, topped at the 113.45 levels, bottomed at the 112.54 levels. This development leaves the pair targeting the 111.90 levels, a halt is likely and a reversal may occur here, If seen, resistance comes at the 112.60/113.45 levels where fall resumption is likely, however; below 111.90 will aim the 111.00 levels, further down, support comes at the 110.00 levels.

On the upside, resistance comes at the 112.90 levels ahead of the 113.45 (main), above 113.45 will bring limited gains below 114.50/114.95 levels…

Conclusion: The USDJPY continues to face downside threats below the 113.45 levels with risk to the 111.90 levels, above 113.45 sees recovery threats to the 114.50/114.95 before the next falling…

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