FX.co ★ Daily analysis of USD/JPY for April 10, 2018

USD/JPY

The USD/JPY pair is bearish in the long term, and bullish in the short term. Much did not happen on Monday, but a directional movement is anticipated, which would result in either a Bullish Confirmation Pattern, or a Bearish Confirmation Pattern, especially in the 4-hour chart. A rise in volatility is in the offing.

There is currently a Bullish Confirmation Pattern in the 4-hour chart, and thus, price is expected to go further upwards, reaching other supply levels at 107.50 and 108.00. However, a strong pullback is also a possibility.