USDJPY Daily Forecast Oct 03 2018


USDJPY: Bullish Despite Corrective Pullback Attempts!

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:

U.S ISM Non-Manufacturing PMI (Sep): Today at 14:00 GMT. The indicator is expected to fall 58.0, from 58.5 in the previous month. (a buying opportunity is likely).