USDJPY Daily Forecast Jan 07 2015

Japan652 min
Japan652 min

The USDJPY maintained a bearish momentum yesterday , topped at the 119.63 levels and bottomed at the 118.04 levels . This development leaves the pair targeting the 117.30 levels , a halt is strongly suggested  but a cut would open 116.35 levels , further downside will target the 115.30 levels.

On the upside , resistance comes at the 119.63 levels , break of 119.63 on a daily closing basis will restore the upside momentum and open 120.81 levels , a halt is likely but a break will recapture the 121.83 levels.

In all , as long as 119.63 resistance holds on a daily closing basis , outlook in USDJPY remains on the downside towards the 118.00 levels ahead of the 117.30 levels , above 119.63 will restore the upside momentum and pave the way towards the 120.81/121.83 levels.

 

USDJPY Daily Forecast Jan 07 2015

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