OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY Technical Analysis: Negative bias, 110.00 exposed

  • The yen remains supported by risk aversion and lower US yields. 
  • The USD/JPY pair is testing a relevant short-term support around 110.50. A break below would signal the end of the corrective move, exposing the 110.00/05 area. 

USD/JPY 15-minutes chart

USDJPY

  • The stronger yen could test 110.00 relatively soon. If it breaks below the next target is 109.60, the 50% Fibonacci retracement of the March-October rally. 
  • On the upside, the immediate resistance is 111.70. Above the US dollar could gains strength for a recovery on top of 112.00. The next critical resistance is 112.20 (Dec 6 and 10 low). 

USDJPY Daily Chart

USDJPY


 

WTI capped and trades as a derivative to stocks, targets S1 at $43.90

WTI has been correcting early Dec's downtrend from above 54 the figure where prices dropped to as low as $42.67 on Christmas day. WTI futures have bee
Read more Previous

EUR/USD: Back on gradual recovery path towards 1.20 - UOB

 Analysts at UOB, explained that the the ingredients for a more sustainable recovery in the EUR against the US dollar are now falling into place in 20
Read more Next
Start livechat