Tuesday, December 6, 2022

USD/JPY Price Forecast: Below 104.00 Risks A Slide

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shorts at key resistance at 104.65/75 target 104.40/30 (hit overnight), perhaps as far as 104.15/05 for profit taking on any remaining shorts. Below 104.00 risks a slide to 103.75/65.

Key resistance again at 104.65/75. Shorts need stops above 104.90. A break higher is a buy signal targeting 105.30/40 & strong resistance at 105.60/70 for profit-taking.

minor resistance at 124.30/40. Shorts need stops above 124.55. A break higher targets 124.65/70 then resistance at October/November highs at 125.00/125.13.

Shorts at minor resistance at 124.30/40 target 124.05/00, perhaps as far as 123.60/50 for profit taking on any remaining shorts.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Neutral
JPY Chart
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