USDJPY – Daily Analysis – 06th October, 2015

Date: 06th October, 2015

Currency Pair: USDJPY

USDJPY has been moving firmly towards up. The price is trying to approach 120.71 price level which is the immediate resistance for today. Lately the pair had shown some good upward strength, suggesting to continue its advancement above 120.71 price level. Current upward movement may extend up to 120.96 price level once it breaks 120.71 and then reach up to 121.39.

On flip side 120.03 is offering a strong support for today. Other support levels are at 119.60 and 119.35.

USDJPY continues to show some bullish movement from last trading session. USD seems as steady and it is quite possible for the pair to continue its bullish momentum. A good upward strength is only possible beyond 120.71 price level. Unable to cross the said level may put the pair into a corrective mode.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD Trade Balance High -47.6B -41.9B
USD IBD/TIPP Economic Optimism Low 44.6 42.0

4 Hours Chart

Daily Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 118.91 117.94 117.19 120.63 121.38 122.35
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