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.
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