Easing global trade concerns, especially between the US and China has revived the demand for the US currency. Find out how the USDJPY pair trades currently on this 27 March USDJPY Intraday Technical Forecast.
27 March, OctaFX – The U.S dollar has recovered above the key 105.24 level against the Japanese yen, as risk-on trading sentiment spreads through global financial markets.
Reports that China is preparing to concede on a number of key trade issues with the U.S, has seen traders move away from the perceived safety of the Japanese yen currency. The USDJPY pair retains a bullish intraday bias whilst trading back above the 105.24 level, with traders now look to the release of March U.S Consumer Confidence data.
27 March USDJPY Intraday Technical Forecast
The USDJPY pair is bullish while trading above the 105.24 technical level, further upside towards 106.00 and 106.45 remains possible.
Should the USDJPY pair fall back below the 105.24 level, price-action will turn bearish, with key support then found at 105.00 and 104.64 levels.
This article about 27 March 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.
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