USDJPY analysis: Pair remains range bound

February 19, OctaFX – The US dollar continues to trade in a narrow range against the Japanese yen currency and is retaining a slight intraday bullish bias while trading above the 110.40 level.

USDJPY technical outlook

A break above the 110.80 level may trigger technical buying in the USDJPY pair towards the 111.40 level. A sustained move below the 110.24 support level should provoke technical selling towards key the 109.80 level.

  • The USDJPY pair is only bullish while trading above the 110.80 level, key technical resistance is found at the 111.10 and 111.40 levels.
  • If the USDJPY pair trades below the 110.24 level, sellers may test towards the 110.00 and 109.80 support levels.


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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