USDJPY Bearish Outlook


USDJPY pair makes a muted upside recovery after crashing on Wednesday. why? The 11 January USDJPY Bearish Outlook reveals the reason for that. Dig in!

11 January, OctaFX –The U.S dollar has edged higher against the Japanese yen overnight, as the pair makes a muted upside recovery after crashing to the 111.25 level on Wednesday. The recent move higher in the USDJPY pair was sparked by demand for U.S dollars, around the key 92.00 technical level.

Price-action is now testing the pairs 200-day moving average, which is found at the 111.78 level and is a key metric of the USDJPY pairs trading sentiment. Traders now look to the U.S dollar index’s next directional move and December PPI inflation figures from the United States economy.

11 January USDJPY Bearish Outlook

  • USDJPY sellers retain control of the pair while price-action trades below the 112.05 level, downside targets for sellers remain 111.25 and 110.84.

  • Should the USDJPY pair start to trade above the 112.05 level, further upside towards 112.31 and 112.69 seems possible.

Disclaimer

This article about 11 January USDJPY Bearish Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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