USDJPY Daily Forecast Aug 14 2020

Dollar Yen 5566653 e1580307852612

USDJPY: Bullish, Risk Turns To 107.35 Levels…

The USDJPY remains on the upside as long as 106.67/105.87 support holds on a daily closing basis. Resistance comes at 107.35 levels. A halt is likely, it may test 106.67 before attempts to break higher or (It may top around 107.35 levels). Anyway; above 107.35 aims the 108.20 level, further upside, resistance comes at 109.17 levels.

On the downside, immediate support comes at 106.67 level ahead of 105.87 level (main). Below 105.87 faces pullback threats to 104.70 where another rising is likely. Below 104.70 reverse risks to the downside.

In Conclusion: The USDJPY sees upside threats above 105.87 levels.

Support: 106.67, 105.87, 104.70, 104.08, 103.05

Resistance: 107.35, 108.20, 109.17, 109.85, 110.70

Key data/events which may affect USDJPY today:

  • U.S (Core) Retail Sales (MoM) (Jul) at 12:30 GMT.
USDJPY Daily Forecast Aug 14 2020