Outlook in USDJY is neutral this week, support at the at 101.37 levels, stability above this level will keep pushing on the resistance 102.81. sustained trading above the 102.81 will confirm short term bottoming and open 103.43 levels ahead of 104.83 levels ., but upside move above 102.81 should be limited by the 104.83 levels.
On the downside, stability below the 102.81 levels, will keep pushing on the 101.37 levels, a cut will open 100.74 ahead of 100.43, further losses will aim the 98.92 levels, but downside below 101.37 should be contained well by the 98.92 levels.
In all, in short-term outlook, the pair is neutral, support at 101.37 while resistance at 102.81, above 102.81 will open 103.43/104.83 levels, below 101.37 will look for 100.74/100.43 levels.
In medium term outlook, the pair is neutral support at 98.92 levels while resistance at 104.83 levels, the pair is likely to consolidate within this range, a weekly close above 104.83 will open 107.00/108.00 levels and possible 110.00 levels. while a weekly close below 98.98 will turn the focus to the 93.00 levels…