USDJPY Daily Forecast Mar 02 2015

Japan652 min
Japan652 min

The USDJPY maintained a bullish momentum last Friday , printed support at the 119.11 levels , topped at the 119.79 levels . This development leaves the pair targeting the 120.21 levels , a halt is likely , but a break would open 120.75 next , further upside will target the 121.35 levels.

On the downside , support comes at the 119.50 levels ahead of the 119.11 levels (main) , sustained breakout – daily closing – below 119.11 will suggested short term topping and bring a corrective pullback above the 118.23 levels before the next rise…However ; a clear break below the 118.23 levels will reverse risk towards the 116.86 levels ….

In all , as long as 119.50/119.11 support holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 120.21 levels and possible higher towards the 120.75 levels , below 119.11 faces a pullback risk followed by a consolidation  above the 118.23 levels before the next rise…

 

USDJPY Daily Forecast Mar 02 2015

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