April 12, OctaFX – In this USDJPY analysis, the US dollar has made a strong upside recovery from the 111.00 level against the Japanese yen currency as investor demand for the greenback returns.
USDJPY technical analysis
The USDJPY pair has a strong intraday bullish bias while trading above the 111.60 resistance level. Technical indicators on the four-hour time frame suggest that the USDJPY pair can trade higher over the short-term.
If the USDJPY pair trades above the 111.60 level, buyers may test towards the 112.00 and 112.45 levels.
If the USDJPY pair trades below the 111.60, key intraday support is found at the 111.30 and 110.90 levels.
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