USDJPY Daily Forecast Nov 16 2018

Dollar -Yen 65985656

USDJPY: Faces Corrective Pullback Threats…

As long as 113.65 -broken support turned resistance- holds on a daily closing basis, the USDJPY remains in a pullback mode and further down could be seen. Immediate support comes at 113.15 level. A halt is likely, it may test 113.65 before attempts to break below 113.15 level. Anyway; a cut below 113.15 aims 112.55/112.29 before another rise, further down, support comes at 111.75 level.

On the upside, resistance comes at 113.65, above that level aim 114.25, a break will restore the upside momentum and aim 114.95 level.

Conclusion: The USDJPY sees corrective threats below 113.65 levels.

Support: 113.15, 112.55, 112.29, 111.75

Resistance: 113.65, 114.25, 114.95, 115.45