USDJPY Daily Forecast Jun 13 2014

The USDJPY  maintained a bearish momentum yesterday ,bottomed at the 101.59 levels ,  printed resistance at the 102.13  levels .This development leaves the pair targeting the 101.27  levels where a breach will turn focus on the 100.85  levels , further downside will aim the 100.40  levels.

On the upside , resistance comes at the 101.86  levels ahead of 102.13  (main),a failure to hold below the 101.59 could mean a return to the 102.13 levels ,  break of 102.13  levels on a daily basis would recapture the 102.33/102.74  levels , If this resistance is taken out , expect the pair to strengthen further towards the 103.11/104.12 levels…..

In all , as long as resistance 102.13  holds on a daily closing basis  , outlook in USDJPY  remains on the downside towards the 101.27/100.85  levels, break of 102.13  will reverse risks towards the 102.33/102.74  levels…..


USDJPY Daily Forecast Jun 13 2014