USDJPY – Daily Analysis – 07th October, 2015

Date: 07th October, 2015

Currency Pair: USDJPY

USDJPY fallen sharply to test 119.83  price level i.e. 2nd support for today. Now the pair is trading above 1st support i.e. 120.02. The pair is showing some mixed directional move ahead of “BOJ Press Conference”. Today’s key support levels are at 120.02, 119.83 and 119.56.

On other hand 120.48 is offering a strong resistance. Beyond this level 120.75 and 120.94 are other resistance levels.

From technical point of view the pair is bearish as the pair had already test 2nd support. In addition, today we’ve some important economic events, specially related to JPY. Beas is bearish for today.

Today’s Economic Events

Currency Event Impact Actual Forecast Previous
USD FOMC Member Williams Speaks Medium
JPY Monetary Policy Statement High
JPY Leading Indicators Low 103.4% 105.0%
JPY BOJ Press Conference High 0.69|1.2
USD Crude Oil Inventories Medium 2.2M 4.0M
USD 10-y Bond Auction Low 2.24|2.7

4 Hours Chart

Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 120.02 119.83 119.56 120.48 120.75 120.94
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