USDJPY Daily Forecast Oct 22 2015


Outlook in USDJPY has turned to the upside, immediate support comes at the 119.75 levels, stability above this level will keep pushing upwards towards the 120.65 levels, a halt is likely and reversal may occur, however, a break would open 121.35 next, further upside, resistance comes at the 122.00 levels.

On the downside, support comes at the 119.75 levels, a cut through the 119.75 levels will bring a corrective pullback above the 118.38/118.80 levels before the next rise…

Conclusion: The USDJPY continues to face upside threats in short term above the 119.75 levels.

Note: Minor resistance comes at the 120.05 levels, sustained breakout above this level is needed to resume the upside offensive, otherwise; market’s failure remains an option !!!


USDJPY Daily Forecast Oct 22 2015