What to expect from USDJPY movements today? This 31 August USDJPY Technical Analysis from OctaFX’s analysts will provide you with necessary guidance.
31 August, OctaFX – The US dollar has erased earlier gains against the Japanese yen, as global equity markets turn lower over growing concerns about emerging market economies.
The USDJPY pair has been hurt by growing risk-off trading sentiment, as traders seek the safety of the Japanese yen. Selling pressure is likely to remain on the USDJPY pair while price continues to trade below the 111.10 level.
31 August USDJPY Technical Analysis
- The USDJPY pair is bearish while trading below the 111.10 level, key support is found at the 110.90 and 110.55 levels.
- If the USDJPY pair trades moves above the 111.10 level, buyers may once again test towards the 111.39 and 111.80 resistance levels.
This article about 31 August 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.