USDJPY: Faces Further Recovery Pressure Towards 111.74/82 Levels

Forex Trades • Sep 10, 2018 at 12:37 PM EDT

The USDJPY pair still faces further price recovery threats following its Friday higher close. On the downside, support lies at the 110.50 level where a break if seen will aim at the 110.00 level.

The USDJPY pair still faces further price recovery threats following its Friday higher close. On the downside, support lies at the 110.50 level where a break if seen will aim at the 110.00 level. A cut through here will turn focus to the 109.50 level and possibly lower towards the 109.00 level.

On the upside, resistance resides at the 111.50 level. Further out, we envisage a possible move towards the 112.00 level. Further out, resistance resides at the 112.50 level with a turn above here aiming at the 113.00 level.

On the whole, USDJPY faces further upside pressure on correction.

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