USDJPY Daily Forecast Oct 31 2018

Dollar -Yen - 659545 (1)

USDJPY: Bullish, Risk Builds Up On 113.65 Level.

The USDJPY maintained a bullish momentum, yesterday, bottomed at 112.29, topped at 113.15 level. This development leaves the pair targeting the 113.65 level. A halt is likely, it may test 113.15 before a higher leg above 113.65, anyway; above113.65 aims  114.25, further upside, resistance comes at 114.95 level.

On the downside, support comes at 112.29 level, below that level will turn outlook neutral for 111.75/111.35 where another rise is likely…

Conclusion: The USDJPY sees upside threats above 112.29 levels.

Support: 112.29, 111.75, 111.05, 110.50

Resistance: 113.15, 113.65, 114.20, 114.95

blankKey data/events which may affect USDJPY today:

  • The Bank of Japan will announce its benchmark interest rate and publish a rate statement. No change is expected in the central bank monetary policy.