Subscribe To

Price Alert Latest News Economic Calendar News

USDJPY dips into support and bounces

The USDJPYs initial reaction off of the Fitch downgrade was to the downside in the US dollar. The price fell toward a swing area between 142.23 and 142.65 on the daily chart (see video). In between sits the 61.8% retracement of the longer-term move down from the 2022 high to the 2023 low in the USDJPY. That level comes at 142.492.Looking at the hourly chart below, each of those levels was part of the price action today. Initially, support held at 142.654 and bounced. Then support held the 61.8%... Read More

Demo Live Account See Partner Details

Content Topics

Usdjpy

Dips

Into

Support

Bounces

Forex

Posted: Aug 2 2023, 13:15

Author Name: forexlive

Risk Disclosure:

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
We would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. We and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of us and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. We may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.