USD/JPY Price Analysis: Dollar pressuring March’s highs, near 111.50, as Fed launches QE

USD/JPY bullish pressure remains unabated at the start of the week.
The level to beat for bulls is the 111.53 resistance.

Flavio Tosti Independent Analyst

USD/JPY daily chart

USD/JPY is bouncing up sharply from the 2020 lows as bulls are eying the 2020 highs. The Fed launched an unlimited Quantitative Easing (QE) however the demand for US dollars vs. yen remains for now unabated at the start of the week.

USD/JPY four-hour chart

USD/JPY bull trend is intact as bulls are challenging the 111.53 resistance. A break beyond the above-mentioned level should lead to further gains towards the 112.46 and 114.00 price levels. Support is expected to hold near 111.00, 110.48 and 110.20 levels.

Resistance: 111.53, 112.46, 114.00

Support: 111.00, 110.48, 110.20

Additional key levels

USD/JPY

Overview
Today last price	111.58
Today Daily Change	0.66
Today Daily Change %	0.60
Today daily open	110.92

Trends
Daily SMA20	107.61
Daily SMA50	108.94
Daily SMA100	108.96
Daily SMA200	108.27

Levels
Previous Daily High	111.51
Previous Daily Low	109.33
Previous Weekly High	111.51
Previous Weekly Low	105.15
Previous Monthly High	112.23
Previous Monthly Low	107.51
Daily Fibonacci 38.2%	110.68
Daily Fibonacci 61.8%	110.16
Daily Pivot Point S1	109.67
Daily Pivot Point S2	108.41
Daily Pivot Point S3	107.49
Daily Pivot Point R1	111.84
Daily Pivot Point R2	112.76
Daily Pivot Point R3	114.02

Author

Flavio Tosti

Independent Analyst

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