USDJPY Daily Forecast Oct 20 2014

Outlook in USDJPY has turned neutral at the moment , a short term bottom has been placed at the 105.19 levels , and more consolidative trading is suggested above the 105.19 levels , but consolidations above the 105.19 levels is supposed to be limited by the 107.81 /109.22 levels.

On the downside , to restore the downside momentum ,  a break below the 105.19 levels is needed , If seen , focus will be on the 104.25/103.55 levels , a cut will open 102.51 levels.

In all , as long as support 105.19 holds on a daily closing basis , the pair remains in recovery mode , but recovery should be limited below the 107.81/109.22 levels , below 105.19 will resume fall from 110.08 levels towards the 103.54/102.51 levels.


USDJPY Daily Forecast Oct 20 2014