HomeContributorsTechnical AnalysisUSDJPY Awaiting US Data

USDJPY Awaiting US Data

The US dollar has come under increasing pressure against the Japanese yen due to the worsening geopolitical situation between Iran and the United States. The USDJPY pair could suffer a technical meltdown if bulls force price under the 107.70 support level. Traders are now awaiting the release of important monthly retail sales data from the United States economy.

The USDJPY pair is bearish while trading below the 108.44 level, key support remains at the 107.70 and 107.05 levels.

If the USDJPY pair trades above the 108.44 level, key technical resistance is found at the 108.64 and 108.80 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