USDJPY Daily Forecast Sept 09 2014

Outlook in USDJPY remains on the upside as long as support 104.97/104.67  holds on a daily closing basis , resistance comes at the 106.95 levels , a break would open 108.00  next , At this point I’d expect strong resistance from the 108.00 levels to limit the upside move and bring consolidation before the next move , however ; a clear break above the 108.00 levels will have large bullish implication towards the 109.72/110.65 levels..

On the downside ,support comes at the 105.70 levels ahead of the 104.97/104.67 levels , below 104.67 will turn outlook neutral for retesting the 103.54 levels before the next rise .

In all , as long as support 104.97/104.67   holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 106.95   levels and possible higher towards the 108.00  levels , a clear break below the 104.67  will turn outlook neutral toward the 103.54  levels before the next rise…..

 

 

USDJPY Daily Forecast Sept 09 2014

 

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