FX.co ★ Daily analysis of USD/JPY for June 7, 2018

USD/JPY

Since a bullish signal was generated in the market, price has continued going upwards in a slow and steady manner, and that is something that can be sustained as long as the Yen continues to be weak. Price is above the demand level at 110.00 and it may reach the supply levels at 111.00 and 111.50 soon.

The USD/JPY is now a bullish market, as the EMA 11 crosses the EMA 56 to the upside. The RSI period 14 is above the level 50. It is possible that price may gain another 100 pips before the end of this week.