USDJPY Weekly Forecast Sept 08 2014

Outlook in USDJPY remains on the upside as long as support 104.09  holds on a weekly closing basis , resistance comes at the 105.43  levels , sustained trading above the 105.43  levels is needed to resume the upside offensive , If seen , the pair will target the 106.95 levels , a halt is likely, but further upside  will aim the 108.15  levels…

On the downside , a failure to hold gains above the 105.43  levels could mean a return to the  104.09  levels ,a halt is likely , but losing the 104.09  levels will turn outlook neutral for retesting the 103.54/102.24 levels before the next rise…

In all , as long as support 104.09 holds on a weekly closing basis  , outlook in USDJPY remains on the upside towards the 105.43 levels and possible higher towards the 106.95 levels , below 104.09 levels will reverse risks towards the 103.54/102.24 levels before the next possible rise….

 

USDJPY Weekly Forecast Sept 08 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS