USDJPY Daily Forecast Mar 24 2017

USDJPY, Bearish Despite Recovery Attempts!

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USDJPY, Bearish Despite Recovery Attempts!

Outlook in USDJPY remains on the downside as long as 111.68 resistance holds on a daily closing basis, support comes at the 110.62 levels, a cut through that level will target the 109.78 levels, further down, support stands at the 107.90 levels.

On the upside, immediate resistance comes at the 111.68 levels, sustained breakout – daily closing- above thatĀ level will put the pair in the recovery mode for resettingĀ the 112.55 levels (daily and weekly resistance) before the next falling…

Conclusion: The USDJPY continues to face downside threats below the 111.68 levels with risk to the 110.62/109.78 levels, above 111.68 sees recovery risk to the 112.55 levels before the next falling…

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