US Dollar Surges Above 114.00


The US dollar strengthened above 114.00 after strong economic numbers released yesterday. What should USDJPY pair traders expect next?

4 October, OctaFX – The US dollar has surged above the 114.00 level against the Japanese yen after the greenback firmed following hawkish comments from Federal Reserve Chair Jerome Powell.

US Dollar Surges Above 114.00

The USDJPY pair is strongly bullish while trading above the 114.06 level and may gain further due to bullish fundamentals and technicals. Buyers will likely target the 115.00 level while sellers will attempt to move price below the 114.06 level.

  • The USDJPY pair is strongly bullish while trading above the 114.06 level, key resistance is now found at the 114.55 and 115.00 levels.
  • If the USDJPY pair moves below the 114.06 level, key support is found at the 113.80 and 113.51 levels.

Disclaimer

This article was provided by OctaFX. It should NOT 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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