USDJPY Intraday Technical Analysis


Selling momentum is building around the USDJPY pair. Below what level are further intraday losses likely expected? Get updated on the 16 March USDJPY Intraday Technical Analysis .

16 March, OctaFX – The U.S dollar has continued to slide against the Japanese yen during the European trading session, with price-action falling to a new weekly trading-low around the 105.60 level. Selling momentum is building around the pair, with medium-term USDJPY bears eyeing further intraday losses below the 105.50 level.

Traders now look to the release of the Jolts job opening report, which remains a key measure of United States employment the U.S Federal Reserve monitor closely.

16 March USDJPY Intraday Technical Analysis

  • The USDJPY pair is likely to experience further losses below the 105.50 level, with key support then, found at the 105.22 and 104.60 levels.
  • If the USDJPY pair moves back above the 105.77 resistance level, buyers may move price-action back towards the pivotal 106.00 level.

Disclaimer

This article about 16 March 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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