USDJPY: Weakens, Eyes The 112.00 Zone

17 February 2017, 13:03

USDJPY: The pair weakened on Thursday leaving risk of more decline to occur in the days ahead. On the downside, support comes in at the 112.50 level where a break if seen will aim at the 112.00 level.  A cut through here will turn focus to the 111.50 level and possibly lower towards the 111.00 level. On the  upside, resistance resides at the 113.00 level. Further out, we envisage a possible move towards the 113.50  level. Further out, resistance resides at the 114.00  level with a turn above here aiming at the 114.50 level. On the whole, USDJPY looks to extend its downside pressure.


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