HomeContributorsTechnical AnalysisUSDJPY Break Down Continues

USDJPY Break Down Continues

The US dollar remains under heavy downside pressure against the Japanese yen currency after the pair fell towards the 105.20 support area during yesterday’s US session. Traders that are bearish towards the USDJPY pair may sell into any corrective moves above the 106.50 level. Technical analysis shows that the USDJPY pair is heavily bearish while trading under the 105.30 support level.

The USDJPY pair is only bullish while trading above the 106.00 level, key resistance is found at the 106.20 and 106.40 levels.

The USDJPY pair is only bearish while trading below the 106.00 level, key support is found at the 104.70 and 104.00 levels.

Octa
Octahttp://octaengine.com/c/?p=203&bt=gif&b=2369
Octa (formerly OctaFX) is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 180 countries with more than 40 million trading accounts.

Featured Analysis

Learn Forex Trading