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20 Mar 2020
USD/JPY Price Analysis: Dollar prints fresh weekly highs approaching 2020 tops vs. yen
- USD/JPY broke above the 111.00 figure on exceptional USD demand.
- USD/JPY is nearing the 2020 high located at the 112.22 level.
USD/JPY daily chart
USD/JPY is reversing sharply from the 2020 lows now en route towards the 2020 high as market participants are rushing to the USD.
USD/JPY four-hour chart
USD/JPY is breaking new weekly highs into Friday while nearing the 112.00 figure. A break beyond the above-mentioned level should lead to further price appreciation towards the 113.00 and 114.00 price levels. Support is expected to hold near 111.00, 110.00 and 109.50 levels.
Resistance: 112.00, 113.00, 114.00
Support: 111.00, 110, 109.50,
Additional key levels