USDJPY Analysis 22.04.2019

The US dollar fluctuated in a narrow bullish range during the Asian session against the Japanese Yen amid a lack of economic data earlier this week by the Japanese economy, the third largest economy in the world and on the brink of developments and economic data expected Monday by the US economy, the largest economy in the world.

At 05:54 GMT, the USDJPY rose 0.01% to 111.94 compared to the opening levels at 111.93, after reaching the highest level at 111.99, while the lowest at 111.85.

Investors are currently waiting for the US economy to release housing data as the Existing Home Sales Index, which may reflect a decline of 3.7% to 5.31 million, versus 11.8% at 5.51 million homes in February. Initial US GDP reading for the first quarter by the end of this week.

Technical analysis:

The USDJPY pair is not trading in the greenback due to the Easter holiday as the USDJPY pair has been trading sideways and narrowly recently, maintaining its stability below 112.12, noting that Stochastic is in a four-hour time frame, Should push the pair to resume the expected bearish trend for the coming period, targeting 111.44 then 110.86.

Keep in mind that a breach of 112.12 will halt the expected decline and push the price to resume the bullish trend in the short term.

The trading range for today is among the key support at 111.10 and resistance at 112.60.

The general trend for today is bearish.