USDJPY Weekly Forecast Feb 09 2015

Japan652 min
Japan652 min

The USDJPY failed to hold losses below the 117.00 levels last week , rebounded and closed above the 118.04 levels . As a result , outlook remains neutral but with possible risk to the upside , resistance comes at the 119.21 levels , sustained breakout will open 120.80 levels , a halt is likely but a break would open 121.83 levels , a break will restore the upside momentum and open 124.00 levels.

On the downside support comes at the 118.04 levels ahead of the 117.00 levels , losing the 117.00 levels will build strong pressure on the 115.84 levels , a cut will resume fall from the 121.83 towards the 114.25/113.25 levels.

In all , the USDJPY is likely the consolidate within 115.84/121.83 range before the next move …

 

USDJPY Weekly Forecast Feb 09 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS