Ali pair is moving in an upward trend but has hit the channel ceiling at 111.67. The price can fall to the bottom of the channel at 110.73
The USDJPY was able to reach a 14-month high of 111.60 with 0.1% growth. One of the main strengths of the USDJPY pair is 111.70, which can be very important. The resistance level of 111.70 has been stable since March 2020. If the NFP news is positive today, it could be in favor of the dollar and ultimately in the Japanese yen.
But if the price tends to grow and continue to rise, the 112 price target may be appropriate. The price continued its upward trend until it reached its 14-month price ceiling and the uptrend stopped. A trend that has been completely upward and growing for the last 3 days. Positive trends in Asian currencies such as the Japanese yen and the Chinese yuan have put pressure on the US dollar. The total US dollar index fluctuates in the range of 92.50. USDJPY fluctuations are highly sensitive to bank interest rate news. The same sensitivity led to a positive trend in the dollar against the Japanese yen. The main support levels for this currency pair are 110.75 - 111.15 and finally 111.40