USDJPY Monthly Forecast Oct 2018

USDJPY: Bullish, Risk Builds Up On 116.25 Levels!

As long as 110.37/109.52 support holds on a monthly closing basis, the USDJPY remains on the upside to the 116.25 levels in the long-term forecast, a halt is likely but a break would open 119.35, further upside, resistance comes at the 121.48 levels.

On the downside, a failure to hold above the 113.70 levels could mean a return to the 110.37/109.52 levels, it should turn higher from here but if this fails to happen, the risk will be reversed to the downside to the 105.65 levels, further down, support comes at the 101.12 levels.

Conclusion: The USDJPY sees upside threats above 109.52/110.37 levels in the long-term forecast…

Support: 110.37, 109.52, 105.65, 101.12

Resistance: 113.70, 116.25, 119.35, 121.48