Friday, October 16, 2026

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FxWirePro: USD/JPY trades slightly above 110, jump till 112 likely

USD/JPY shown a gap up today morning after first round of French election result. The pair jumped till 110.51 and is currently trading around 110.12. The pair upside is capped by daily Kijun-Sen (110.81) and any break ab…

By FxWirePro Team
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FxWirePro: USD/JPY trades slightly above 110, jump till 112 likely
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  • USD/JPY shown a gap up today morning after first round of French election result. The pair jumped till 110.51 and is currently trading around 110.12.
     
  • The pair upside is capped by daily Kijun-Sen (110.81) and any break above will take the USD/JPY till 111.48 (100 –day EMA)/112.
     
  • Short term bullish invalidation only below 108 and any break below will drag the pair down till 106.35 (61.8% retracement of 98.78 and 118.66)/105.
     
  • The momentum indicators like MACD and RSI is showing buy signal in the daily chart.

    It is good to buy on dips around 109.95-110 with SL around 109 for the TP of 112.

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