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Technical analysis

USDJPY Under Downside Pressure

OctaFx | Dec. 28, 2018
USDJPY Under Downside Pressure

December 28, OctaFX – The US dollar is once again back under downside pressure against the Japanese yen, as safe-haven currencies remain in strong demand. The USDJPY has now erased Thursday’s gains and is likely to trade lower while price holds below the 110.80 level.

USDJPY Technical Analysis

The MACD indicator on the daily time frame is also showing that the USDJPY pair is likely to continue to trend lower.

  • The USDJPY pair is intraday bearish while trading below the 110.80 level, key technical support is found at the 110.26 and 109.76 levels.
  • If USDJPY pair trades above the 110.80 level, buyers may test towards the 111.35 and 111.75 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.