USDJPY Daily Forecast Jan 05 2015

Japan652 min
Japan652 min

Outlook in USDJPY remains on the upside as long as 119.93 support holds on a daily closing basis ,  resistance comes at the 120.81 levels., break of the 120.81 levels will open the 122.25 levels , a halt is likely , but a break would open 124.00 next (weekly target), further upside will aim the 126.00 levels.

On the downside , support comes at the 119.93 levels , losing this level on a daily closing basis will bring a corrective pullback above the 118.89 levels before the next rise , however; losing the 118.89 levels will extend the pullback from the 120.81 levels to the 115.55/116.28 levels before the next rise…

In all , as long as 119.93 support holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 122.25 levels ahead of the 124.00 levels, below 119.93 will bring pullback towards the 118.89 levels before the next rise.

USDJPY Daily Forecast Jan 05 2015

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