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
|USD||FOMC Member Brainard Speaks||Medium|
|USD||NAHB Housing Market Index||Low||62||62|
|USD||FOMC Member Lacker Speaks||Low|
4 Hours Chart