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USD JPY Technical Analysis October 1, 2018

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USD JPY Technical Analysis October 1, 2018

The USD rose 0.29% against the JPY on Friday and closed at 113.67. Today in the European session while USD JPY technical analysis October 1, 2018 is preparing at 10:15 GMT, the USD/JPY trading at 113.90, which is 0.10% higher against JPY from yesterday’s close.

In Asian session, data showed that the Bank of Japan quarterly Tankan Index of Sentiment for Large Manufacturers fell to 19 in the third quarter 2018 from 21 in the previous quarter, missing market consensus of 22, but is expected to remain stable in Q4.

USD JPY technical analysis October 1, 2018
USD JPY technical analysis October 1, 2018

USD JPY technical analysis October 1, 2018

The pair is expected to find support at 113.42. And a fall through could take it to the next support level of 113.16. The pair is expected to find its first resistance at 113.96, and a rise through could take it to the next resistance level of 114.21. For today the expected trading range is between 113.42, Support and 114.21 Resistance.

The expected trend for today is Bullish

Supports Levels: Support 1: 113.42 Support 2: 113.16 Support 3: 113.00
Resistance Levels: Resistance 1: 113.82 Resistance 2: 113.96 Resistance 3: 114.21

Previous day`s high: 113.70
Previous day`s low: 113.67

USD/JPY Buying Opportunity for Intraday Trading October 1, 2018

Buy near the support area 113.42 and 113.16 as soon as you get reversal candlesticks patterns like Hammer, Bullish Englufing, Long Leged Doji or Dragonfly Doji, using stop loss 2 pips below the reversal candlestick & keep target equal to stop loss.

USD/JPY Selling Opportunity for Intraday Trading October 1, 2018

Sell near the resistance area 113.96 and 114.21 as soon as you get reversal candlesticks patterns like Shooting Star, Bearish Englufing, Long Leged Doji or Gravestone Doji, using stop loss 2 pips above the reversal candlestick & keep target equal to stop loss.

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