USD/JPY (107.17) â€“ Weekly Forecast
Weekly forecast levels: 106.05/109.40
Trend for the week â€“ Neutral/Upward
Weekly Strategy: The yen remain very strong against the dollar. The Asian traders prefer the local currency than the US dollar due too the rising expectations for recession in USA. As overall the yen is under pressure. There are many investors expecting the yen to lose against the dollar. But all means by the dollar. If the dollar holds the positions below the ever time record against the euro the dollar will up to and above 109 levels. The first trading scenario suggest to open long positions, while if the dollar is set under new attacks to sell dollars against the yen for levels below 105.50.