USDJPY Weekly Forex Forecast – 29th Aug to 2nd Sept 2016 Technical Outlook:
USDJPY has broken out from the falling wedge pattern after breaking out strongly from the 100.90 resistance level which is now acting as support. Further gains can be seen for USDJPY to test the upper resistance at 102.75 – 102.25. Watch for any pull backs to the current rally to enter long targeting the resistance level. In the event USDJPY breaks below 100.90, then expect a test back to 99.850.
USDJPY Weekly Forex Forecast – 29th Aug to 2nd Sept 2016 Fundamental Outlook:
The week ahead if quiet as far as Japan is concerned. But the yen is likely to sit back for the US dollar to do the lifting. Therefore the US economic data could see the USDJPY push higher if the data comes out positive. In the medium term the gains in USDJPY are likely to be limited unless we expect the BoJ to chip in as well. For the moment though expect USDJPY to maintain its small ranges.
USDJPY Weekly Forex Forecast – 29th Aug to 2nd Sept 2016 – BULLISH
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