USD/JPY Forecast: Flat around 114.00
|USD/JPY Current price: 113.92
View Live Chart for the USD/JPY
Flat around 114.00. The USD/JPY pair continues seesawing around the 114.00 level, pretty much flat daily basis. There were no major news coming from Japan, while worse-than-expected US trade deficit for October, down to $.42.60B from a previously revised deficit of $36.20B is pushing the JPY modestly higher ahead of the US opening. The short term picture is neutral-to-bearish, as in the 1 hour chart, the price is stuck around its 100 SMA, while technical indicators have lost their bearish strength within positive territory after reaching their mid-lines. In the 4 hours chart, the technical picture is also neutral, as technical indicators head nowhere around their mid-lines, although given that the 100 SMA continued rallying below the current price, the risk of a deeper bearish move is limited. A bearish move will remain as corrective as long as the price holds above 112.80, this week's low, while a break above 114.90 is required to confirm a new leg higher, towards the 116.60 price zone.
Support levels: 113.65 113.20 112.80
Resistance levels: 114.10 114.45 114.90
Interested in USD/JPY technicals? Check out the key levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.