Mar 20, 2020
USD/JPY Price Analysis: Dollar clings to 3.5-week’s highs vs. yen, challenges 111.00 figure
- USD/JPY is challenging the 111.00 figure as DXY demand is relentless.
- The level to beat for buyers is the 111.00 figure.
USD/JPY daily chart
USD/JPY is bouncing sharply from the 2020 lows while breaking above the 110.00 key psychological level and holding above the main SMAs on the daily chart. Investors are rushing to USD as the demand stays unabated into Friday.
USD/JPY four-hour chart
USD/JPY is consolidating gains below the 111.00 figure while trading above the main SMAs as bulls keep their eyes on the 112.00 and 113.00 figures on the way up. Support is expected to hold near 110.00, 109.50 and 109.00 levels.
Resistance: 111.00, 112.00, 113.00
Support: 110, 109.50, 109.00
Additional key levels