USDJPY Daily Forecast Jan 20 2016

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Outlook in USDJPY remains neutral with risk to the downside as long as trades below the 118.01 levels on a daily closing basis, a failure to hold above the 118.01 levels on a daily closing basis could mean a return to the 116.68 levels, below 116.68 will open 116.12, a halt is likely but a cut would open 115.00 next, further down, support comes at the 113.85 levels.

On the upside, resistance comes at the 118.01 levels, above 118.01 faces a recovery risk towards the 119.05 levels before the next fall, further upside, will extend recovery towards the 120.09/120.97 levels….

Conclusion: The USDJPY continues to face¬†downside threats below the 118.01 levels…

USDJPY Daily Forecast Jan 20 2016

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