I have been waiting patiently to see whether the bulls could close above the 113.15 handle and they did so on Friday. However, I do not open trades just before a weekend and will wait to see if this level will hold over the weekend and on a Daily close. Failure by bulls to hold this level will keep the pair ranging between 111.60 and 113.15. If the pair can manage to stay above 113.15 on a Daily close it would open up to 114.35 to 115.40 resistance area. I’m standing aside for now to see how the market will open later today.

USDJPY - 22 OCT

Source: MARYNA

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