USDJPY Technical Forecast


The USDJPY pair could get plenty of attention on Tuesday as the presidents of both countries meet. There’s still a bullish case to be made for this pair given the yen’s prevailing weakness.  How is the pair now trading? Get a detailed explanation in this 17 April USDJPY Technical Forecast.

17 April, OctaFX – The U.S dollar continues to trade to the downside against the Japanese yen currency, as the greenback comes under selling pressure across the board.

USDJPY Pair Testing Below Key Pivot

The USDJPY pair currently trades around the level 107.00 level, as buyers looked past better than expected United States Retail Sales data on Monday. Traders now look towards U.S Housing and Industrial Production data, and scheduled speeches from four FOMC members.

17 April USDJPY Technical Forecast

  • The USDJPY pair is intraday bearish while trading above below the 107.00 level, support is currently found at the 106.60 and 106.00 levels.

  • Should price-action on the USDJPY pair move back above the 107.30 level, buyers may test towards the 107.48 and 107.77 levels.

Disclaimer

This article about 17 April USDJPY Technical Forecast 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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