Weekly Market Outlook: May 20-24
What currencies to consider this week…
USD/JPY: forecast for March 27-31
50-day MA went below the 100-day one – a bearish sign. Below 111.50 USD/JPY looks vulnerable for a decline to 100.25/00 (200-week MA, psychological support). Next support is at 109.10. At the same time, the pair has got oversold, so minor recoveries are possible. Only above 111.60 the pair will get a chance to revisit the next hurdles at 112.50 and then 113.40.
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