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Forex

USDJPY Strrongly Bullish Above 110.80

USDJPY Strrongly Bullish Above 110.80

February 14, OctaFX – The US dollar is now testing the key 111.00 level against the Japanese yen currency after buyers easily broke through the 110.80 resistance area. 

USDJPY Technical Outlook

Strong technical resistance is seen around the 111.10 level, although the 111.40 level remains the target for bulls. The USDJPY pair risks losing recent bullish momentum if sellers force price back under the 110.40 support level.

  • The USDJPY pair is strongly 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 moves below the 110.80 level, sellers may test towards the 110.40 and 110.00 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.

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