USDJPY Weekly Forecast Mar 09 2015

Japan652 min
Japan652 min

Outlook in USDJPY remains neutral at the moment , resistance comes at the 120.00 levels , sustained breakout – weekly closing – above the 120.00 levels is needed to restore the upside momentum and recapture the 121.83 levels , a halt could be seen , but a break would open 124.00 next , further upside will target the 125.75 levels..

On the downside , a failure to hold above the 120.00 levels could mean a return to the 118.00 levels , a halt is likely but a cut would open 117.00 next , further down will target the 115.80 levels..

In all , as long as 120.00 resistance holds on a weekly closing basis , outlook in USDJPY remains neutral and consolidation below the 120.00 levels remains likely , but consolidation below the 120.00 levels should be contained well above the 112.47 levels , sustained breakout – weekly closing – above the 120.00 levels is needed to restore the upside momentum , If seen , focus will be on the 121.83 levels ahead of the 124.16 levels..

 

USDJPY Weekly Forecast Mar 09 2015

 

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