After ten days of consolidation, USD/JPY broke strongly to the upside to fresh 2020 highs. The level to beat for bulls is the 111.50 resistance. USD/JPY daily chart USD/JPY is rising sharply breaking above the 111.00 figure and closing a gap from May 2019. The spot is trading in a bull channel while above its daily simple moving averages (SMAs). The market is having an exceptional intraday rally as the average daily range is about three times larger than usual. USD/JPY four-hour chart USD/JPY is printing fresh 2020 highs as the market is spiking above its main SMAs. The market decided to break the range of the last ten days while breaking through several resistance levels, the better market mood and USD strength made bears capitulate. As the bulls are back in control, the spot will focus on the 111.50 resistance to extend gains towards the 111.95 and 111.41 levels. Support can be seen near the 110.69, 110.34 and 109.88 levels, according to the Technical Confluences Indicator. Resistance: 111.50, 111.95, 111.41 Support: 110.69, 110.34, 109.88 Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI climbs to three-week highs above $53 ahead of API FX Street 2 years After ten days of consolidation, USD/JPY broke strongly to the upside to fresh 2020 highs. The level to beat for bulls is the 111.50 resistance. USD/JPY daily chart USD/JPY is rising sharply breaking above the 111.00 figure and closing a gap from May 2019. The spot is trading in a bull channel while above its daily simple moving averages (SMAs). The market is having an exceptional intraday rally as the average daily range is about three times larger than usual. USD/JPY four-hour chart USD/JPY is printing fresh 2020 highs as the market is spiking above its… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
