USDJPY Daily Forecast Nov 07 2018


USDJPY: Bullish, But Hesitates Ahead Of 113.65 Level…

As long as 112.29 support holds on a daily closing basis, the USDJPY remains on the upside to 113.65 level. A halt is likely, it may test 113.15 before another up. Anyway; above 113.65 aims 114.25 level, further upside, resistance comes at 114.95 level.

On the downside, support comes at 113.15 ahead of 112.29 (main), below that level will turn outlook neutral for 111.75/111.35 where another riseĀ is likely…

Conclusion: The USDJPY sees upside threats above 112.29 levels even in the case of a corrective pullback…

Support: 113.15, 112.29, 111.75, 111.05

Resistance:113.65, 114.20, 114.95, 115.45

Hint: The first assumed target has been met at 113.65, so a corrective pullback below 113.65 is likely before attempts to break higher. But remember: any pullback below 113.65 will be contained by 112.29/113.15 level.