Thursday, October 15, 2026

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FxWirePro: USD/JPY upside stalls shy of 103 handle, bias higher, stay long

USD/JPY upside stalls shy of 103 handle, momentum still with the bulls. The pair finds strong support by hourly 20-MA at 101.67, some weakness seen on break below. PM Abe on the wires earlier today, said he is not thinki…

By FxWirePro Team
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FxWirePro: USD/JPY upside stalls shy of 103 handle, bias higher, stay long
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  • USD/JPY upside stalls shy of 103 handle, momentum still with the bulls.
     
  • The pair finds strong support by hourly 20-MA at 101.67, some weakness seen on break below.
     
  • PM Abe on the wires earlier today, said he is not thinking at all of calling an early election, yen-market reaction muted thus far.
     
  • We see some consolidation ahead of the next directional move. US non-farm payrolls due Friday will likely be the main catalyst. 
     
  • Our previous call (http://www.econotimes.com/FxWirePro-USD-JPY-momentum-turns-bullish-good-to-go-long-on-dips-330874) has hit TP12.
     
  • We recommend booking partial profits, raise trailing stop to 101.65 and hold for targets.
     
  • Major support levels - 101.80 (trendline), 101.65 (20-DMA), 101.57 (Oct 4th low)
     
  • Major resistance levels - 103, 103.23 (weekly 20-MA), 103.73 (100-DMA)
     

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By FxWirePro Team