USDJPY Weekly Forecast January 17

The Banzai Warriors are poised for an extended bull run after taking a breather for the whole of last week. We can actually see a Bullish Flag forming and having a key resistance at A2, 83.12. The target is at 84.50, the high recorded on December 15, 2010.There is, however, a key support at 82.28, when compromised, will exposed the downside target at 81.74, which we doubt. Depending on Monday or Tuesday's closing, when the key resistance is penetrated, then the target 84.50 is possible but week's close shall be above A1, 83.75.

Prajurit Banzai sedang bersiap sedia untuk maju lagi, walau telah beristirehat selama minggu lalu. Kami melihat ada Bendara Bullish yang sedang terbentuk dan tercatat resistance kunci di A2, 83.12. Sasarannya adalah ketinggian yang tercatat pada Desember 15, 2010, di level 84.50. Namun, ada support kunci di 82.28, dan apabila jebol, akan membuka peluang penurunan ke target bawah di level 81.74, kami sangat meragukan itu. Tergantung pada harga penutupan Senin atau Selasa, jika melewati titik resistance kunci, maka target 84.50 sangat mudah tercapai dan menutup perdagangan minggu ini di atas A2, di level 83.75.