USDJPY Intraday Technical Forecast


In currency news, the US dollar surged on Monday to its highest level in over three months, as rising interest rates boosted the appeal of the greenback. The US dollar index (DXY) reached a high near 91.00 after gaining 0.7%. What more does this 24 April USDJPY Intraday Technical Forecast discuss?

24 April, OctaFX – The U.S dollar continues to strengthen against the Japanese yen after better than expected economic data from the U.S economy further boosted the greenback.

The USDJPY pair currently trades around the 108.70 level, after earlier moving to its highest level since early February, hitting 108.84. USDJPY traders are likely to follow the intraday direction of the U.S dollar index and longer-dated U.S treasury yields.

24 April USDJPY Intraday Technical Forecast

  • The USDJPY pair is strongly bullish while trading above the 108.50 level, key resistance is now found at the 108.88 and 109.31 levels.

  • Should the USDJPY pair decline below 108.50 level, sellers will likely test towards the 107.92 and 107.45 support levels.

Disclaimer

This article about 24 April USDJPY Intraday 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.

    Share Your Opinion, Write a Comment