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Forex

USDJPY Intraday Technical Analysis

USDJPY Intraday Technical Analysis

The USDJPY pair intraday direction is defined by the 108.98 level. What else is revealed in the 26 January USDJPY Intraday Technical Analysis? Find out.

26 January, OctaFX – The U.S dollar has encountered extreme volatility against the Japanese yen currency overnight, with price-action spiking towards the 109.76 level, following U.S President Donald Trump’s comments on the U.S dollar.

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Speaking in the World Economic Forum, President Trump said the value of the U.S dollar will get much stronger, causing the USDJPY pair to rally over one-hundred pips from the 108.50 support level. Price-action is currently trading around the 109.20 level, with the greenback now giving back gains.

26 January USDJPY Intraday Technical Analysis

  • The USDJPY pair is likely to move higher while price-action trades above the 108.98 level. Upside targets for buyers remain 109.76 and 110.00.

  • Should price-action on the USDJPY pair decline below the 108.98 level, further losses towards 108.60 and 108.20 seem possible?

Disclaimer

This article about  26 January 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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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