USDJPY Intraday Technical Analysis


The dollar has moved higher against the Yen in early Tuesday trading.OctaFX has shared its 16 January USDJPY Intraday Technical Analysis for traders to benefit from.

16 January, OctaFX – The U.S dollar has moved higher against the Japanese yen in early Tuesday trading, as the U.S dollar index stages a recovery towards the 90.50 level. The USDJPY currently trades around the 110.90 region, after the pair quickly fell towards the 110.30 support level during a volatile Monday trading session.

Traders now look to the next directional move in the U.S dollar index, and the return of United States financial markets, after the Martin Luther King Day holiday.

16 January USDJPY Intraday Technical Analysis

  • USDJPY sellers retain control of the pair while price trades below the 111.22 level, further intraday losses towards the 110.33 and 109.80 are expected.
  • Should the USDJPY pair start to move above the 111.22 level, a recovery towards 111.45 and 111.74 remains possible.

Disclaimer

This article about  16 January USDJPY Intraday Technical Analysis 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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