HomeContributorsTechnical AnalysisUSDJPY Buyers Target 109.76 Level

USDJPY Buyers Target 109.76 Level

The greenback continues to firm above the 109.00 handle against the Japanese yen, with bulls now targeting towards the key former swing-price-high, at 109.76. The USDJPY pair currently trades around the 109.30 level, after finding interim weekly resistance from the 109.44 level. Traders now look towards the release of U.S Durable Goods Orders, and the Bank of Japan Interest Rate Decision and Policy Statement on Friday.

The USDJPY pair remains bullish while trading above the pivotal 109.00 level, key upside resistance is located at the 109.76 level and the 110.11 level.

Should the USDJPY pair start to trade below the 109.00 level, a sharp decline back towards the 108.50 and 107.92 level may occur.

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