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Daily analysis of USD/JPY for April 5, 2018

Posted On 05 Apr 2018
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USD/JPY

This trading instrument has become bullish, and it is now going upwards. Price is now close to the supply level at 107.00, which would soon be breached to the upside. The next target is the supply level at 107.50. Some fundamental figures are expected today and they may have impact on the markets.

The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. There is a Bullish Confirmation Pattern in the 4-hour chart, and thus, the price is expected to go further upwards, reaching other supply levels.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of USD/JPY for April 5, 2018

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