USDJPY Weekly Forecast May 05 2014

Outlook in USDJPY remains neutral with risk to the upside this week  , resistance comes at the 103.42 levels  , break of 103.42 will build strong pressure on the 104.12 levels , a break would recapture the  104.83 levels , a halt is likely , but a clear break would open 105.43 next , further upside will aim the 107.00 levels.

On the downside , support comes at the 101.31 ahead of 100.75 (main) , stability above both levels will keep pushing to the upside , however ; losing the 100.75 levels will reverse risks towards the 98.92 levels before the next possible rise…

In all , as long as 100.74 holds on a weekly basis , outlook in USDJPY remains on the upside towards the 104.83/105.43 levels , below 100.74 will reverse risks towards the 98.92  levels….


USDJPY Weekly Forecast May 05 2014