USDJPY is Strongly Intraday Bullish


USDJPY is strongly intraday bullish, consolidating overnight strong gains to near one-week tops. The pair traded with a mild negative bias through the Asian session on Wednesday. What is next?

12 September, OctaFX – The US dollar has moved towards the top end of its short-term trading range, as rising US bond and equity markets push the greenback higher. Asian stock markets have hit a fourteen- month trading low on Wednesday, causing the USDJPY pair to pause.

USDJPY is Strongly Intraday Bullish

USDJPY buyers will attempt to keep the price above the 111.75 level to keep the recent bullish momentum alive, while sellers will try to push the price below the 111.37 level.

  • The USDJPY pair is strongly intraday bullish while trading above the 111.75 level, key resistance is found at the 112.05 and 112.20 levels.
  • If the USDJPY pair moves below the 111.37 level, key support is found at the 110.90 and 110.38 levels.

Disclaimer

This article about USDJPY is Strongly Intraday Bullish 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.

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