USDJPY is currently trading at the 20-day SMA support suggesting limited downside potential, further it is also trading in a small bullish candlestick formation after bouncing from this support zone corroborating the above observation. RSI is rising indicating that a rebound in the pair could be witnessed in the coming sessions. It is likely that USDJPY could rise towards 109.50 and 110.00 while it sustains above 108.60.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.