USDJPY Weekly Forecast Aug 11 2014

Outlook in USDJPY remains on the upside as long as support 100.82 holds on a weekly closing basis , resistance comes at the 103.42 levels , sustained trading – weekly closing – above the 103.42 levels is needed to resume the upside offensive , If seen , the pair will recapture the 104.83/105.43 levels , further upside will aim the 105.50/106.00 levels…

On the downside , a failure to take out the 103.42 levels could mean a return to the 101.75 /100.82 levels , losing this level would open 97.60 levels , further losses will aim the 96.56 levels….

In all , as long as support 100.82 holds on a weekly closing basis , outlook in USDJPY remains on the upside towards the 103.42 levels and possible higher towards the¬†104.83/105.43 levels, below 100.82 will bring a free fall towards the 97.60/96.56 ¬†levels…….

USDJPY Weekly Forecast Aug 11 2014

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