USDJPY: Vulnerable Despite Price Hesitation

24 January 2017, 14:02
FXTechstrategy
0
16

USDJPY: The pair may be hesitating but remains weak and vulnerable to the downside on correction. On the downside, support comes in at the 113.00 level where a break if seen will aim at the 112.50 level.  A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. On the  upside, resistance resides at the 114.00 level. Further out, we envisage a possible move towards the 114.50  level. Further out, resistance resides at the 115.00  level with a turn above here aiming at the 115.50 level. On the whole, USDJPY looks to extend its downside pressure.

 

 

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