USDJPY Daily Forecast Oct 02 2018

USDJPY: Bullish, Eyes Further Upside

As long as 113.45/113.15 support holds on a daily closing basis, the USDJPY remains on the upside, to the 114.27 levels, a halt is likely but a break would open 114.88 levels, further upside, resistance comes at the 116.03 levels.

On the downside, below 113.15 sees a corrective pullback to the 112.55 levels before another rise, below 1112.55 will extend the corrective pullback to the 112.00/111.63 levels, further down, support comes the 111.05 levels.

Conclusion: The USDJPY continues to face upside threats above the 113.15/113.45 levels.

Support: 113.45, 113.15, 112.55, 112.00

Resistance: 114.27, 114.88, 115.50, 116.03

Key data/events which may affect USDJPY today:

Fed Chair Powell Speaks at 16:00 GMT. He will speak about employment and inflation expectations at the annual meeting of the National Association for Business Economics in Boston. Questions may be asked after the speech. (Volatility is expected).