FX.co ★ USD/JPY Weekly Forecast For August 15th - 19th / 2011

DESCRIPTION :

The USD/JPY has a strong support at the 76.50 level, and next week this level is likely to be test again. If this level still can hold the Bearish movement of this currency, it will bring the USD/JPY back to go up again especially if the USD/JPY can break out and close above the 77.52 level; this situation will bring this pair to test the mark 78.00 as the first target and the 78.46 (Previous Weekly high) as the second target. On the other hand, if the 76.50 cannot hold the Bearish situation of the USD/JPY then the 76.25 will be the next support target and the mark 76.00 will be the second target.