USD/JPY Price Analysis: Dollar clings to 3.5-week’s highs vs. yen, challenges 111.00 figure

 

 

USD/JPY is bouncing sharply from the 2020 lows while breaking above the 110.00 key psychological level and holding above the main SMAs on the daily chart. Investors are rushing to USD as the demand stays unabated into Friday.  

 

 

 

USD/JPY is consolidating gains below the 111.00 figure while trading above the main SMAs as bulls keep their eyes on the 112.00 and 113.00 figures on the way up. Support is expected to hold near 110.00, 109.50 and 109.00 levels.