USDJPY Daily Forecast Nov 08 2018

Dollar -Yen - 659545 (1)

USDJPY: Bullish, Eyes Further Upside!

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 rise 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

Key data/events which may affect USDJPY today:

The Fed will announce its latest monetary policy decision and publish its rate statement at 19:00 GMT.