USDJPY 2017-12-20 Intra-day analysis

U.S. housing starts rise to a 13-month high

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USDJPY intra-day analysis

USDJPY (112.98): The U.S. dollar was seen trading stronger against the Japanese yen with price managing to close at a four-day high yesterday. On the intraday charts, price action is back at the resistance level of 113.00 – 112.90 region. A reversal at this level could potentially put USDJPY back within the range. Support is seen at 112.04 level. However, in the event of a breakout above the resistance level, further gains to 114.00 can be expected. A pullback to the breached resistance level to form support could establish more upside bias in price.


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