18
Jul
USD/JPY Technical Analysis: Dollar traders seeking new highs for 2018
- Dollar surging against the Japanese Yen as traders ramp up the Greenback, looking to mark in a fresh high for 2018 and erase the first half’s bearish tone.
- Resistance levels above the 114.00 major handle represent significant challenges for buyers.
- The bullish trend from 2018’s bottom at 104.60 has been decidedly bullish as the USD continues to shake off major institutional calls for a further-weakening Dollar in 2018.
| Spot rate: | 112.99 |
| Relative change: | 0.13% |
| High: | 113.07 |
| Low: | 112.82 |
| Trend: | Bullish |
| Support 1: | 112.21 (previous day low) |
| Support 2: | 111.64 (61.8% Fibo retracement level) |
| Support 3: | 110.76 (July 11th swing low) |
| Resistance 1: | 113.07 (current week high) |
| Resistance 2: | 113.38 (2018 high) |
| Resistance 3: | 114.72 (November 2017 high) |