USDJPY Analysis 04.04.2019

The US dollar fluctuated in a tight range slipping into the Asian session to see its rebound to its second-highest session since March 20 against the Japanese yen amid a lack of economic data by the Japanese economy on the eve of developments and economic data expected on Thursday by the US economy.

At 06:24 GMT, the USDJPY rose 0.10% to 111.38 compared to the opening levels at 111.49 after reaching a low of 111.36 and reaching a high of 111.52.

Investors are currently waiting for the US economy to read the Jobless Claims for the week ending on March 30. It could reflect a rise of 4K to 211K versus 211K. 23 of the last month down by 6 thousand to 1,750 thousand applications against 1,756 thousand applications.

Technical analysis:

The USDJPY remains stable above the breached resistance, which constitutes good support at 111.40. Therefore, the upside is still valid for the short and medium term. It's supported by the SMA 50, which holds the price from the bottom, noting that our awaited targets start at 111.75 then 112.14.

Keep in mind a break of 111.40 will push the price down towards 110.86 before any new positive attempt.

The trading range for today is expected among the support at 110.86 and the resistance at 112.20.

The general trend for today is bullish.