USDJPY Intraday Technical Analysis


The latest 9 February USDJPY Intraday Technical Analysis shows that the pair is looking for direction around 18.98. Read on to see more details.

9 February, OctaFX – The USDJPY pair has moved back towards the pivotal 108.98 level, after suffering yet another pull-back towards the 108.50 zone, following the broad-based decline in global equity prices on Thursday. Investors continue to seek safe-haven asset classes on the last trading day of the week, as risk-off trading sentiment worsens, underpinning overall demand for the Japanese yen currency.

Moving into the European trading session, traders will look to equity prices and the key 108.98 level for guidance on the USDJPY pairs next intraday move.

9 February USDJPY Intraday Technical Analysis

  • The USDJPY pair remains intraday bullish while price-action trades above the 108.98 level, further upside towards 109.44 and 109.71 may occur.

  • Should the USDJPY pair start to trade below the 108.98 level for an extended period, we may see a correction back towards the 108.70 and 108.45 support levels.

Disclaimer

This article about 9 February 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.

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