USDJPY Daily Forecast Dec 12 2018

Dollar - Yen -final 65968545

USDJPY: Recovers With Caution…

As long as 113.17 support holds on a daily closing basis, the USDJPY remains in a recovery mode and further upside couldn’t be ruled out. Resistance comes at 113.40 level. A sustained breakout – daily closing – above that level will open 113.83, further upside, resistance comes at 114.20 ahead of 114.53 levels.

On the downside, a failure to hold above 113.40 level on a daily closing basis could mean a return to 113.17 level where a cut will aim 112.29 level. below 112.29 restores the downside momentum and aims 111.75 level.

Conclusion: The USDJPY sees recovery threats above 113.17 with caution…

Support: 113.17, 112.29, 111.75, 111.05

Resistance: 113.40, 113.83, 114.20, 114.75

On the 4-hour chart, the pair is bullish above 113.23 level, below that level sees pullback threats to 112.89 level, further down aims 112.59 level. Above 113.23 will increase the risk for 114.00 levels but a daily closing above 113.40 is needed first.

USDJPY Daily Forecast Dec 12 2018_H4USDJPY Daily Forecast Dec 12 2018Key data/events which may affect USDJPY today:

The U.S will report on Consumer Price Inflation for Nov at 13:30 GMT. The forecast is to fall 0.0%, from 0.3% a month earlier. Core CPI is expected to remain unchanged as the previous month at 0.2%. Above forecast is positive for USDJPY. Anyway; the indicator┬ámay push the pair to 113.83 or 113.17 levels…

MARKET DATA

UPCOMING ECONOMIC EVENTS

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