USDJPY – Weekly Forecast 16-20 Dec 2013

Recommendations: LONG positions above 102.15 with 103.75 & 104.65 as next targets.
Alternative scenario:The downside breakout of 102.15 will call for a slide to 101.14/100.14.
Description: With the key support 101.90 intact, further rise towards 103.90 is suggested , break of 103.90 will aim 104.65 levels , sustained trading above 104.65 will open 106.50 levels .On the downside , losing the key support 102.15 would weaken the current bullish run for retesting  101.14 levels ahead of  100.14 levels before the next possible rise .

Support and resistance  : 99.09, 100.14 , 101.14 (Pivot) , 102.15, 103.90 , 104.65, 106.50

 

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