Friday, March 30, 2018

USD/JPY Is At A Support Level

The markets have slowed down completely since large parts of the world are celebrating Easter. I don’t think we will see any major movements neither today nor on Monday (2nd April), and on 3rd April, Tuesday, there are no major financial or economic news despite it being a work day, which could provoke volatility.

Despite that the USD/JPY pair has reached a strong support on the H4 time frame and the bars that have formed and closed on that chart are signaling for an impending move north. I think that in case there is a breakout above 106.30 the medium term targets could be at 106.50, 107.00, 107.50.

To the downside the pair has to overcome 106.00 – 105.50 in order to continue depreciating to 105.00.