USDJPY analysis – US dollar recovers against yen

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.

USDJPY analysis


This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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