USDJPY 18-01-2018 Intra-day analysis.

USD rebounds but investors question if the dollar can hold on to the gains

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USDJPY 18-01-2018

USDJPY intra-day analysis

USDJPY (111.45): USDJPY posted a recovery as price action turned bullish yesterday. Closing above the 111.00 level of support, further gains could be expected if USDJPY manages to find support near 111.00 on a dip. We expect that the currency pair will target the next upside resistance at 111.61 region. The main test of resistance will be seen at 112.00 which previously served as support and was eventually breached. A break out above 112.00 could signal further gains in the medium term. However, for the moment, USDJPY could remain below the 112.00 resistance level upon successfully retesting this level.

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John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.

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