USDJPY sellers have regained control at 108.98 level. What else can be learned from the 30 January USDJPY Intraday Technical Outlook? Find out.
30 January, OctaFX – The U.S dollar remains under heavy selling pressure against the Japanese yen currency, as the Nikkei225 and broader equity markets suffer triple-digit intraday losses. Risk-on sentiment remains weak on Tuesday, limiting USDJPY upside, as financial markets fear a swift is underway, with investors rotating away stocks and into higher-yielding bonds.
Price-actions now sits close to the 108.50 level, as traders await a key-note speech from President Trump and key Industrial Production figures from the Japanese economy.
30 January USDJPY Intraday Technical Outlook
The USDJPY pair is heavily bearish while trading below the 108.98 level, further losses towards the 108.13 and 107.32 remain likely.
Should the USDJPY pair start to move above the 108.98 level, an upside correction towards 109.59 and 110.18 may ensue.
This article about 30 January USDJPY Intraday Technical Outlook 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.