USDJPY – Daily Analysis – 19th October, 2015

Date: 19th October, 2015

Currency Pair: USDJPY

USDJPY has been trying to recover from an oversold area. The pair is still trying to show some bullish strength. The immediate resistance can be found at 119.77. If it is broken then 120.11 will come into play followed by 120.60.

On flip side 118.94 is offering a strong support for today. Other support levels are situated at 118.45 and 118.11.

USDJPY is trying to follow a well defined bullish slope. A good continuation towards up is only possible if the pair crosses 119.77. In last two trading sessions the pair had shown some good strength. But upside movement is very limited if we look at the chart. We can expect some limited movement from this pair. Beas is more neutral than bullish.

Economic Events For Today

Currency Event Impact Actual Forecast Previous
USD FOMC Member Brainard Speaks Medium
USD NAHB Housing Market Index Low 62 62
USD FOMC Member Lacker Speaks Low

4 Hours Chart



Daily Support And Resistance Levels

Currency Pair S1 S2 S3 R1 R2 R3
USDJPY 118.94 118.45 118.11 119.77 120.11 120.60
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