USDJPY Daily Forecast Sept 06 2016

USDJPY:Vulnerable To The Downside, Losses Upside Momentum ! Faces Pullback Threats !


USDJPY: Vulnerable, Losses Upside Momentum !

With USDJPY failing to continue higher through the 103.98 levels, a short term resistance has been printed at the 104.30 levels, while its immediate risk remains higher, the USDJPY will have to break and hold above the 104.30 levels to prevent a return to the downside.

Immediate support stands at the 102.95 levels where a cut will aim the 101.79 levels, further down, support stands at the 100.05 levels.

On the upside, resistance stands at the 104.30 levels with a break above here opening the way to the 105.60 levels, we might see hesitation, but a break will turn the focus on the 106.80 levels.

Conclusion: The USDJPY remains exposed to the downside below the 104.30 levels…

USDJPY Daily Forecast Sept 06 2016