- After a ten-days consolidation, Dollar/Yen sharply broke to the upside trading at levels not seen since May 2019.
- The level to beat for bulls is the 111.50 resistance.
USD/JPY daily chart
USD/JPY is soaring and about to end the New York session above the 111.00 figure while closing a gap from May 2019. The quote is trading in a bull channel while above the main daily simple moving averages (SMAs). The spot is having an above-average intraday rally as the average daily range is almost four times larger than usual.
USD/JPY four-hour chart
USD/JPY is trading at nine-month highs as the market is spiking above its main SMAs. After the break of the last ten days, the spot broke through several resistance levels as the better market mood and USD strength took its toll on the currency pair. As the market is about to roll into Asia, USD/JPY is challenging the 111.50 resistance level. Bulls want to extend gains about this level and reach the 111.95 and 111.41 price levels. Support is seen near the 110.69, 110.34 and 109.88 levels, according to the Technical Confluences Indicator.
Resistance: 111.50, 111.95, 111.41
Support: 110.69, 110.34, 109.88
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.