USDJPY Weekly Forecast Jan 18 2016

Medium term outlook in USDJPY remains on the downside as long as 118.05/120.46 resistance holds on a weekly closing basis, support comes at the 114.53 levels, a halt is likely, but a cut would open 112.25 next, further down, support comes at the 108.10 levels.

On the upside, resistance comes at the 118.05 levels ahead of the 120.46 levels (main), a clear break will turn outlook neutral towards the 123.47/125.85 levels before the next fall…

Conclusion: The USDJPY continues to face downside threats below the 118.05/120.46 levels in the medium term forecast, above 120.46 faces a recovery risk towards the 123.47/125.85 levels before the next fall…

For today: As long as 118.01 resistance holds on a daily closing basis, the outlook in USDJPY remains on the downside towards the 116.68/116.12 ahead of the 115.50 levels, above 118.01 faces a recovery risk towards the 119.05 levels before the next fall, further upside, will extend recovery towards the 120.09/120.97 levels….

USDJPY Weekly Forecast Jan 18 2016

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