USDJPY Weekly Forecast 20 – 24 Jan

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USDJPY Weekly Forecast 20 – 24 Jan  (Bullish above 102.85)

Recommendations: LONG positions above 102.85 with 104.65 & 105.43 as next targets.

Alternative scenario: The downside breakout of 102.85 will call for a slide to 102.50/102.15.

Description: The daily close above 104.12 levels last week, printed support at 102.85 levels , this development leaves the pair targeting the 104.65 levels where a breach will turn focus on the 105.43 levels, break of 105.43 will open 106.65/107.00 next, note that a failure to hold above the 104.65 levels could mean a return to the 102.85 levels. On the downside , losing 102.85 would turn focus on the 102.50 /102.15 levels, further break will aim the 101.60 levels.

Support & Resistance : 101.60 , 102.15 , 102.50 , 102.85 (Pivot) , 104.65 , 105.43 , 106.65

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

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