USDJPY Weekly Forecast May 19 2014

The USDJPY continued its bearish momentum last week , topped at the 102.35  levels , and bottomed at the 101.30 levels .Now pressure will be on the key support 101.30 …

The USDJPY  will have to hold below the 101.30  levels on a weekly closing basis to push the market for further downside losses , If seen , It will target the the 100.00  levels , a halt is likely , but losing the 100.00  levels on a weekly basis will  open 98.80 levels, further downside will aim the 97.00 levels.

Alternatively ,  a failure to hold below the 101.30  levels on a weekly closing basis could mean a return to the 101.85 levels ahead of 102.35 (main) , a halt is suggested , but break of 102.35 on a weekly basis will recapture the 103.00/104.12  levels , If this resistance is taken out , expect the pair to strengthen further towards the 104.83 / 105.43  levels..

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 May 19 2014

MARKET DATA

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