fxs_header_sponsor_anchor

News

USD/JPY Price Analysis: Dollar prints fresh weekly highs approaching 2020 tops vs. yen

  • USD/JPY broke above the 111.00 figure on exceptional USD demand.
  • USD/JPY is nearing the 2020 high located at the 112.22 level.
 

USD/JPY daily chart

 
USD/JPY is reversing sharply from the 2020 lows now en route towards the 2020 high as market participants are rushing to the USD.
 
 

USD/JPY four-hour chart

 
USD/JPY is breaking new weekly highs into Friday while nearing the 112.00 figure. A break beyond the above-mentioned level should lead to further price appreciation towards the 113.00 and 114.00 price levels. Support is expected to hold near 111.00, 110.00 and 109.50 levels. 
  
 
Resistance: 112.00, 113.00, 114.00
Support: 111.00, 110, 109.50,
 
 

 

Additional key levels

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.