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.

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