USDJPY Weekly Forecast Oct 22 2018

Dollar -Yen - 659545 (1)

USDJPY: Around Critical Resistance!

While its medium-term risk remains higher above 111.65 levels. The USDJPY will have to break and hold above 112.90 levels on a weekly closing basis to prevent a return to the downside if seen it will target 114.20 levels, a halt is likely but a breakthrough resistance will aim 115.85 level, further upside, resistance comes at 117.65 level.

Alternatively, a failure to hold above 112.90 levels on a weekly closing basis could mean a return to 111.65 level where a breakthrough support will aim 110.35 levels, below 110.35 will look for 109.25 level, further down, support comes at 107.65 levels.

Conclusion: The USDJPY remains exposed to the downside below 112.90 levels in the medium-term forecast.

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