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. 

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


Today last price 111.58
Today Daily Change 0.66
Today Daily Change % 0.60
Today daily open 110.92
Daily SMA20 107.61
Daily SMA50 108.94
Daily SMA100 108.96
Daily SMA200 108.27
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



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