USDJPY price bearish below 110.90- What next?

April 11, OctaFX – The US dollar has fallen to a new monthly trading low against the Japanese yen currency after the FOMC meeting minutes showed that US policymakers remained dovish towards interest rates.

USDJPY technical analysis

The USDJPY price is briefly traded below the 110.90 support level, with a sustained price close now needed to turn the weekly sentiment towards the pair bearish. Technical indicators on the daily time frame suggest that the USDJPY pair can still trade lower over the medium-term.

  • If the USDJPY pair trades below the 110.90 level, sellers may test towards the 110.65 and 110.40 levels.

  • If the USDJPY pair trades above the 110.90, key intraday resistance is found at the 111.10 and 111.30 levels.

USDJPY price bearish


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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