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  • 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