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).

MARKET DATA

UPCOMING ECONOMIC EVENTS