USDJPY outlook: Key levels to watch after pullback ...Middle East

As the price approached the December 20 swing high at 155.88, the decline slowed, with the session low reaching 155.94. Holding above this level emphasizes its importance as a key support going into the new trading week. Remaining above 155.88 would favor buyers, while a break below could trigger additional selling pressure.

On the upside, the next targets are the lower bound of the swing area at 157.665, last week's high at 157.918, and the upper bound of the swing area at 158.420.

This article was written by Greg Michalowski at www.forexlive.com.

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