USDJPY Daily Forecast May 21 2014

The USDJPY  continued its  bearish momentum yesterday , printed resistance at the 101.60  levels .This development leaves the pair targeting the 100.70  levels where a breach will turn focus on the 100.00  levels , further downside will aim the 99.35  levels.

On the upside , resistance comes at the 101.60  levels ahead of 102.11  (main), break of 101.60 levels on a daily basis would recapture the 102.11  levels , If this resistance is taken out , expect the pair to strengthen further towards the 102.60 levels , further upside will aim the 103.00 levels..

In all , as long as resistance 101.60/102.11  holds on a daily closing basis  , outlook in USDJPY  remains on the downside towards the 100.70/100.00  levels, break of 102.11  will reverse risks towards the 102.60/103.00  levels…

USDJPY Daily Forecast May 21 2014