USDJPY Weekly Forecast Aug 25 2014

Outlook in USDJPY remains on the upside as long as support 103.07 / 102.23 holds on a weekly closing basis , resistance comes at the 104.18 levels , sustained trading above the 104.18 levels is needed to resume the upside offensive , If seen , the pair will target the 105.43 levels , a halt is likely, but further upside  will aim the 106.95 levels…

On the downside , a failure to hold gains above the 104.18 levels could mean a return to the  103.07 / 102.23 levels ,a halt is likely , but losing the 102.23 levels will turn outlook neutral for retesting the 100.82 levels before the next rise…

In all , as long as support 103.07 / 102.23 holds on a weekly closing basis  , outlook in USDJPY remains on the upside towards the 105.43 levels and possible higher towards the 106.95 levels , below 102.23 levels will reverse risks towards the 100.82 levels before the next possible rise….

 

USDJPY Weekly Forecast Aug 25 2014

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