USDJPY Weekly Forecast Mar 02 2015

Japan652 min
Japan652 min

Outlook in USDJPY remains neutral at the moment . On the upside , support comes at the 118.04 levels , stability above this level could mean a return to the 120.80 levels , a halt is likely but a break would open main resistance at the 121.83 levels before the next fall , break of the 121.83 will restore the upside momentum and open 124.00 levels.

On the downside , stability below the 118.04 levels will keep the pair under pressure with risk towards the 115.00 levels , further down will pave the way towards the 112.47 levels before the next rise..

In all , as long as 120.80/121.83 resistance holds on a weekly closing basis , the USDJPY is likely to consolidate below 120.80/121.83 levels , ┬ábut consolidation below 121.83 levels is likely to be contained well above the 112.47 levels where another rise is suggested…

 

USDJPY Weekly Forecast Mar 02 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS