Daily analysis of USD/JPY for April 12, 2018

USD/JPY

The USD/CHF pair 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, but the RSI period 14 is not clearly above the level 50. Price is expected to go further upwards, reaching other supply levels at 107.50 and 108.00.

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The market is quiet now – not having done much so far in this week. However, the current pause in market activity cannot go on indefinitely. Some fundamental figures are expected today and they would have certain impact on the market.

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