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Technical analysis

USDJPY Bullish Above 110.40 Following Trade Talks

OctaFx | Feb. 18, 2019
USDJPY Bullish Above 110.40 Following Trade Talks

February 18, OctaFX – The US dollar is attempting to recover higher against the Japanese yen currency on Monday after the pair found strong support from the 110.24 level.

The movement of the USDJPY pair is increasingly being driven by news from Sino-US trade talks, with markets still optimistic a deal can be reached.

USDJPY Technical Analysis

Traders should carefully watch for a break of the 110.24 to 110.80 price range, as it will likely signal the next short-term directional move.

  • The USDJPY pair is only bullish while trading above the 110.40 level, key technical resistance is found at the 110.80 and 111.10 levels.
  • If the USDJPY pair moves below the 110.40 level, sellers may test towards the 110.24 and 109.80 support 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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.