HomeContributorsTechnical AnalysisUSDJPY Sellers Retain Control 108.98 Level

USDJPY Sellers Retain Control 108.98 Level

The U.S dollar remains under heavy selling pressure against the Japanese yen currency, as the Nikkei225 and broader equity markets suffer triple-digit intraday losses. Risk-on sentiment remains weak on Tuesday, limiting USDJPY upside, as financial markets fear a swift is underway, with investors rotating away stocks and into higher yielding bonds. Price-actions now sits close to the 108.50 level, as traders await a key-note speech from President Trump and key Industrial Production figures from the Japanese economy.

The USDJPY pair is heavily bearish while trading below the 108.98 level, further losses towards the 108.13 and 107.32 remain likely.

Should the USDJPY pair start to move above the 108.98 level, an upside correction towards 109.59 and 110.18 may ensue.

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