USDJPY Daily Forecast Sept 16 2014

Outlook in USDJPY remains on the upside as long as support 105.93/106.95  holds on a daily closing basis , resistance comes at the 108.00  levels , 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 106.95  levels ahead of the 105.93 levels , below 105.93  will turn outlook neutral for retesting the 104.67/103.54  levels before the next rise .

In all , as long as support 105.93/106.95   holds on a daily closing basis , outlook in USDJPY remains on the upside towards the 108.00   levels and possible higher towards the  109.72/110.65  levels , a clear break below the 105.93  will turn outlook neutral toward the 104.67/103.54  levels before the next rise…..

 

USDJPY Daily Forecast Sept 16 2014

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