USDJPY / 16/12/2014 08:10:02 117,60 Is Broken DownwardsYesterday; USA Empire manufacturing index declined unexpectedly, while industrial production and capacity utilization rate were above the market expectation. USDJPY pair tested 117,60 and broke there downwards. After Japan elections result, we see that yen is gaining value.
Today;USA building permits and housing starts will be followed. In Asian session, Japan trade balance will stand out.
Technically; if USDJPY pair stays below 117,60 level, then 117,00 support would be aimed. If USDJPY pair breaks 117,60 resistance upwards, then 118,70 and 119,20 resistances would be followed. The pair’s general trend continues to be upwards.