Daily analysis of USD/JPY for March 29, 2018

USD/JPY

There is a rally on the USD/JPY pair, and that has resulted in a bullish signal (for price has gained 230 pips this week, testing the supply level at 107.00). There has been a shallow pullback in the market, following that. However, the bullish journey will soon resume.

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The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50, signifying further bullish movement in the market, owing to a Bullish Confirmation Pattern in the 4-hour chart. Some fundamental figures are expected today and they will have certain impact on the markets.

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