How is the pair moving today? Analysts at OctaFX offers key technical levels for trading USDJPY in the sessions ahead in the following 3 July USDJPY Technical Analysis.
3 July, OctaFX – The US dollar is starting to weaken against the Japanese yen currency, after repeated technical failure around the 111.00 resistance level.
The USDJPY pair currently trades around the 110.80 region and faces a reversal lower if bulls fail to find traction above the 111.00 level soon. Sellers may now try to push price towards the 110.45 level, while buyers will try to maintain the USDJPY pair above the 111.00 level.
3 July USDJPY Technical Analysis
- The USDJPY pair is turning intraday bearish while trading below the 111.00 level, further downside towards the 110.45 and 110.00 levels seems possible.
- If the USDJPY pair moves above the 111.00 level, buyers will likely test towards the 111.41 and 112.00 resistance levels.
This article about 3 July USDJPY 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.