Daily analysis of USD/JPY for April 13, 2018

USD/JPY

The much awaited volatility has come back to the market. Price has risen significantly and it has closed above the demand level at 107.50. The next targets would be the supply levels at 108.00 and 108.50, which would soon be breached to the upside, as more buying pressure comes into the market.

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The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. There is a Bullish Confirmation Pattern in the 4-hour chart, which means price would continue going up irrespective of temporary pullbacks on the road.

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