USDJPY Daily Forecast Oct 09 2018

USDJPY: Still Sees Corrective Pullback Threats!

As long as 113.35 broken support turned resistanceĀ holds on a daily closing basis, the USDJPY remains under pressure with a risk for further downside move, support comes at the 112.85/112.50 levels, a halt is likely but a cut would extend the corrective pullback to the 112.00 levels, further down, support comes at the 111.63 levels.

On the upside, a daily closing back above 113.35 levels will release some pressure and pave the way to the 114.27 levels, before another fall, above 114.27 will challenge 114.88 levels.

Conclusion: The USDJPY continues to face corrective pullback threats below 114.27/113.35 levels…

A daily closing back above 113.35 will bring limited gains below 114.27 before another fall…

Support: 112.85, 112.55, 112.00, 111.63

Resistance: 113.35, 114.27, 114.88, 115.50