USDJPY: Bullish, Risk Shifts Up To 114.20 With Caution…
As long as 113.40 support holds on a daily closing basis, the USDJPY remains on the upside, resistance comes at 113.80. The USDJPY will have to break and hold above 113.80 level on a daily closing basis to push the market for further upside gains. If seen it will target 114.20 level where a break will aim 114.75 level, further upside, resistance comes at 115.30 level.
Note: The pair may spike to 114.20 before ending the day below 113.80…
Alternatively, a failure to bold above 113.80 – close of Nov 9, 2018 – could mean a return to 113.40 level. However; below 113.40 sees pullback threats to 112.73, further down, support comes at 112.29 level.
Conclusion: The USDJPY sees upside threats above 113.40 levels with caution.
Support: 113.40, 112.73, 112.29, 111.75
Resistance: 113.80, 114.20, 114.75, 115.30