USD/JPY Analysis - page 60

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Usd/Jpy is consolidating its gains below its immediate resistance level at 109.54, the direction of the pair depends a lot on this week key data.
 
USD: Recent rise suggest it will prove sticky

According to the research Analyst at Westpac, several notable features about the USD’s recent rise suggest it will prove sticky and likely run yet further.

by- FX Street

 
The pair is moving north still, I think it will reach 110.00.
 

USD/JPY started the new week trading within tight range above 109.00. It seems that the pair is awaiting Fed to set direction.

 
It is almost at 110.00 and I think it may move north above that resistance level.
 
The pair is range-bound below 110.00 but I think we will see another move north soon.
 

Recap


USDJPY beat strong resistance at 109.45/55 to target 110.25/30, perhaps as far as 110.80/90.

Daily Forecast - 02 May 2018

USDJPY reaches 109.90 but the severely overbought conditions could trigger a small pullback initially. Below 109.60/50 risks a slide to support at 109.10/00. Unlikely but further losses meet a buying opportunity at 108.75/65, with stops below 108.35. Next targets on a break above 109.95 are 110.25/30 & 110.80/90.





 
The rally on the USDJPY has taken the pair to the 110.00 level and it could break that zone to the upside. Its next resistance could be the 111.00 level. To the downside, the 109.00 level could act as support.
 
It pulled back from 110.00, there may be a correction to 109.00.
 

The greenback continues to fall and soon USD/JPY will meet again the 109.00 handle. Technical structure suggests further declines, but let’s see what NFP will bring.

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