12 June USDJPY Technical Outlook: Pair is bullish


The USDJPY pair is traded in an upward trending channel yesterday, as traders remain optimistic regarding the meeting between President Trump and North Korean Leader Kim. What can traders expect of the pair today? Examine the following 12 June USDJPY Technical Outlook from OctaFX.

12 June, OctaFX – The US dollar now trades back above the 110.00 level against the Japanese yen, with the pair earlier hitting 110.48, as the US dollar index gains back lost ground. The USDJPY currently trades around the 110.20 level, with risk-on trading sentiment supporting further intraday upside in the pair.

Traders now look for fresh news from the meeting between President Trump and North Korean leader Kim Jong-un, and the release of key CPI inflation data from the United States economy.

12 June USDJPY Technical Outlook

  • The USDJPY pair is bullish while trading above the 110.00 level, key resistance is found at the 110.48 and 110.80 levels.
  • If the USDJPY pair moves below the key 110.00 level, key intraday support is now found at the 109.60 and 109.19 levels.

Disclaimer

This article about 12 June USDJPY Technical 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.

Share Your Opinion, Write a Comment