USDJPY Weekly Forecast Oct 08 2018

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USDJPY: Bullish, But Hesitates Ahead Of 114.20 Levels!

As long as 112.85 support holds on a weekly closing basis, the USDJPY remains on the upside to the 114.20 levels, a halt is likely, but a break would open 115.85 levels, further upside, resistance comes at the 117.65 levels.

On the downside, below 112.85 will open 111.65 (main), it should turn higher from here, but a cut through support will suggest a corrective pullback to the 109.75/108.95 levels before another rise!

Conclusion: The USDJP continues to face upside threats above the 111.65 levels in the medium-term forecast…

Support: 112.85, 111.65, 109.75

Resistance: 114.20, 115.85, 117.65

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