USDJPY Daily Forecast Jan 24 2020

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USDJPY: Bearish Risk Builds Down On The 109.00 Levels…

As long as 109.85 resistance holds on a daily closing basis. The USDJPY remains on the downside to 108.95 levels. A halt is likely, it may bottom around here. However; below 109.00 aims the 108.62 level, further down, support comes in the 108.25 level.

On the upside, resistance comes at 109.85 levels. Above that level sees recovery threats to 110.30 level. Sustained trading above 110.30 will reverse risk to the upside to 110.75/111.50 levels…

In conclusion: The USDJPY sees downside threats below 109.85 level.

Support: 109.25, 108.95, 108.62, 108.25, 107.95

Resistance: 109.85, 110.30, 110.75, 111.50, 112.05

USDJPY Daily Forecast Jan 24 2020

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