USDJPY Weekly Forecast Jan 05 2015

Japan652 min
Japan652 min

Despite hesitation , outlook in USDJPY remains on the upside as long as 118.00 support holds on a weekly closing basis, resistance comes at the 120.81 levels , a break would open 121.83 next , further upside will aim the 124.15 levels.

On the downside , support comes at the 1118.00 levels , losing this level on a weekly closing basis should weaken the current bullish run and may bring a corrective pullback above the 112.47 levels before the next rise .

In all , as long as 118.00 support holds on a weekly closing basis , outlook in USDJPY remains on the upside towards the 121.83 levels ahead of the 124.15 levels , below 118.00 will increase the risk towards the 115.00/112.47 levels .

 

USDJPY Weekly Forecast Jan 05 2015

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UPCOMING ECONOMIC EVENTS