USDJPY Weekly Forecast Nov 02 2015

Medium term outlook in USDJPY remains neutral with risk to the upside, the pair is trapped within 118.50/121.50 levels.

On the upside, resistance comes at the 121.50 levels, a break would open 123.30 next, further upside, resistance comes at the 125.70 levels.

On the downside, a failure to hold above the 121.50 levels on a weekly closing basis could mean a return to the 118.50 levels, a halt is likely and a reversal may occur, however; a cut through the 118.50 levels will pave the way towards the 116.20 levels.

Conclusion: The USDJPY continues to face upside threats above the 118.50 levels in medium term outlook even in the case of a pullback…

 

USDJPY Weekly Forecast Nov 02 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS

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