USDJPY Weekly Forecast Jun 02 2014

The USDJPY failed to hold its losses below the 101.30 levels as suggested few weeks ago, at the moment , you need to be careful , the pair is testing main resistance at the 102.35 levels , sustained trading – weekly closing – above this level will print support at the 100.82 levels , If seen , the pair will recapture the 104.12 levels , further upside will aim the 104.86 levels ahead of 105.43 levels.

On the downside , a rejection from the 102.35 levels could mean a return to the 101.30 levels ahead of the 100.82 levels , sustained trading would open 100.00 levels where a breach will turn outlook  on the 98.80 levels ahead of the 97.00..

In all, as long as resistance 102.35  holds on a weekly closing basis , outlook in USDJPY  remains on the downside towards the 100.00  levels  ahead of the 98.80  levels. Break of the 102.35  levels on a weekly basis will reverse risks towards the 103.00 /104.12  levels..

USDJPY Weekly Forecast Jun 02 2014