USDJPY Weekly Forecast Mar 10 2014

Outlook in USDJPY is neutral with risk to the upside ,  support at 102.25 ahead of 100.43 (main) while resistance at 104.83 levels , stability above the 102.25  levels will keep pushing towards the 104.83 levels , sustained trading above the 104.83 levels will suggest that whole rise from 93.78 is resuming , If seen , the pair will target the 107.00 levels , further out will aim the 109.00 levels.

On the downside , a failure to hold above the 104.83 levels could mean a return to the 102.25 levels , a halt is likely but losing the 102.25 levels would open main support on weekly at the 100.43 levels  , below this level will look for the 98.92 levels.

In all , as long as support 100.43 holds on a weekly basis , the USDJPY will remain based to the upside towards the 104.85 levels , losing the 100.43 would reverse risks towards the 98.92 levels before the next possible rise.

In the medium/ long term forecast , rise from 93.78 should resume – sooner or later – towards the 107.00 levels and possible 109.00 levels as long as support 98.92 holds on a weekly basis , losing the 98.92 levels on a weekly closing basis will confirm topping and reverse risks towards the 93.78 levels……….


USDJPY Weekly Forecast Mar 10 2014