USDJPY Daily Forecast: December 16

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By swibowo | December 16, 2013 6:21 PM EST

Fx Instructor

USDJPY Forecast

The USDJPY attempted to push higher on Friday, slipped above 103.75 but failed to stay consistently above that area, closed lower at 103.18 and hit 102.64 earlier today. The bias is bearish in nearest term testing 102.50 – 102.00, but overall I remain bullish. Immediate resistance is seen around 103.30. A clear break above that area could lead price to neutral zone in nearest term retesting 103.75 or higher. Key support is seen around 101.60. A clear break below that area could be a threat to the bullish outlook.

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