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USDJPY: Faces Recovery Risk On Loss Of Bearish Momentum

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Jan 11, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    USDJPY: With USDJPY turning higher on loss of bearish momentum on Monday, it looks to follow through higher in the days ahead. On the downside, support comes in at the 117.00 level where a break if seen will aim at the 116.50 level. A cut through here will turn focus to the 116.00 level and possibly lower towards the 115.50 level. On the upside, resistance resides at the 118.00 level where a cap may be occur again. Further out, we envisage a possible move towards its range top at the 118.50

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