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USDJPY: Faces Bear Threats On Corrective Pullback

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 10, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    USDJPY: The pair lost upside momentum following its failure at 123.59 level to close lower on a rejection candle on Monday. While the 123.59/78 zone caps, we think more weakness should follow. 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 level. On the upside, resistance resides at the 123.50 level where a cap may be occur again. Further out,

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