USDJPY Daily Forecast Mar 12 2020


USDJPY Consolidates With Downside Bias…

The outlook in USDJPY has turned neutral with risk to the downside. Support comes at 101.60 level while resistance comes at the 105.45 level. On the downside, a cut below 101.60 will restore the downside momentum and aim the 100.15 level, further down, support comes at 98.35 level.

On the upside, minor support comes at 103.65 levels. Above 103.65 will keep pushing on the 105.45 level. A break will extend the corrective recovery to 106.90 level, next resistance comes in the 108.40 level.

In conclusion: The USDJPY sees sideways move within 101.60/105.45 levels…

Support: 103.65, 101.60, 100.15, 98.30

Resistance:  105.45, 106.90, 108.40, 109.55

USDJPY Daily Forecast Mar 12 2020