FX.co ★ Daily analysis of USD/JPY for April 11, 2018

USD/JPY

The market has so far rejected any pull of gravity. A rise in volatility is in the offing and it will most likely be in favor of bulls (given what price is currently doing). The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. The price is expected to go further upwards reaching other supply levels at 107.50 and 108.00.

There is currently a Bullish Confirmation Pattern in the 4-hour chart, and thus, further northwards journey is anticipated. There are demand zones at 106.50, 106.00 and 105.50, which would impede bearish attempts.