USDJPY Daily Forecast Jan 21 2020

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USDJPY: Bullish But Consolidates Around 110.00 Levels… 

As long as 110.00 support holds on a daily closing basis. The USDJPY remains on the upside to 110.75 levels. A halt is likely. It may test 110.00 levels before attempts to move higher. Anyway; above 110.75 aims the 111.50 levels, further upside, resistance comes in the 112.05 levels.

A sustained breakout above 110.00 levels is needed to open 110.75 levels…

On the downside, immediate support comes around 110.00 levels. Below that level will bring a limited pullback above 109.57/109.00 levels where another rise is very likely.

In conclusion: The USDJPY sees upside threats above 109.57/110.00 levels.

Support: 110.00, 109.57, 109.00, 108.50, 107.85

Resistance: 110.75, 111.50, 112.05, 112.70, 113.50

Note: According to the 4-hour chart. A short-term resistance has been printed at 110.28 levels. A failure to break above that level followed by a daily closing below 110.00 level, will suggest a corrective pullback to 109.57/109.00 levels…

USDJPY Daily Forecast Jan 21 2020