USDJPY Daily Forecast Nov 10 2014

Outlook in USDJPY has turned neutral with risk to the upside , resistance comes at the 114.56 levels , a clear break above the 114.56 levels will restore the upside offensive , If seen , the pair will recapture the 115.57 levels where a breach will turn focus on the 117.00 levels , a halt is likely , but further upside will pave the way towards the 118.00 levels ahead of the 120.00 levels .

On the downside , stability below the 114.56 levels could extend the pullback from 115.57 levels towards the 113.16/112.47 levels before the next rise .

In all , the USDJPY is likely to consolidate below the 114.56 levels , break of the 114.56 levels will resume the bullish move towards the 115.57 levels ahead of the 117.00 levels , while stability below the 114.56 will keep pullback from 115.57 intact ..

 Conclusion : USDJPY is bullish above 114.56 , below 114.56 remains neutral , 1 or 2 (4) hour closing above the 114.56 , is likely to accelerate the bullish move towards the 115.57 levels.

 

USDJPY Daily Forecast Nov 10 2014

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