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.
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