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Daily analysis of USD/JPY for April 18, 2018

USD/JPY

There is yet to be much activity on this pair. The situation has not changed, but when it does, a directional movement may start, which would propel price above the supply level at 108.00 or the demand level at 106.50. This will require a rise in momentum, and that is what will eventually happen in the market.

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Most likely, the price would be able to go above the supply level at 108.00; even reaching other supply levels at 108.50 and 109.00. There is still some bullish expectation on JPY pairs this week, which could see some rallies on them.

The material has been provided by InstaForex Company - www.instaforex.com