FOREX FORECAST FOR USDJPY

USD/JPY  in the past week saw price breakout dramatically above several major resistance levels, confirming a double-bottom (87.00) bullish reversal in the process. The pair extended its reach all the way up to the 98.70 region before retreating substantially at the very end of the week. 

For the upcoming week of March 2-6, the obvious upside level to watch is 98.70, a breakout of which would signal a continuation of the bullish reversal, potentially targeting resistance in the 100.00 region and beyond. To the downside, 96.00 serves as a key support level for the near-term.