USDJPY Technical Forecast


A look at the updated 26 February USDJPY Technical Forecast shows that further losses of the pair below the 106.60 are expected. What is more?

26 February, OctaFX – The U.S dollar remains under heavy selling pressure against the Japanese yen on Monday, as the U.S dollar index again failed to find buying interest above the key 90.00 technical level. The USDJPY pair currently trades around the 106.60 support level, with bearish selling momentum set to increase below this key area.

Moving into today’s U.S trading session, financial markets are likely to focus on the release of monthly U.S New Sales data and a key speech from Fed member Bullard.

26 February USDJPY Technical Forecast

  • The USDJPY pair remains strongly bearish while trading below the 106.60 level, further losses towards the 106.18 and 105.90 levels appear likely.

  • Should price-action on the USDJPY pair move above the key 106.60 level for a sustained period, buyers may test towards 107.00 and 107.30 resistance areas.

Disclaimer

This article about 26 February 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.

    Share Your Opinion, Write a Comment