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USDJPY Eyes Further Downside Pressure On Price Failure

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 8, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    USDJPY - With price action remaining weak and vulnerable to the downside, USDJPY eyes further downside pressure. This price development is coming on the back of its failed attempts on the upside. While the pair holds below its key resistance zone at 123.66/74 levels, further weakness is likely. On the downside, support comes in at the 122.50 level where a break if seen will aim at the 122.00 level. A cut through here will turn focus to the 121.50 level and possibly lower towards the 121.00

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