On the weekly chart of the USD/JPY currency pair, we observe a dynamic trend, where the dollar appreciates against the yen, and at the same time remains above dynamic support (EMA 10/20).
In turn, on the daily chart, the price reached last Thursday112.30 support, where the November minimums are found. The test of this support, which coincides with the growth trend line run from the bottom of May this year turned out to be positive, as indicated by the return of buyers during the first session of this week. Today, however, buyers have managed to raise dollar quotes for new maxima. Continuation of increases may lead USDJPY to the area at 113.85 / 90, where there is a trend line running from the November high. Overcoming the aforementioned trend line would open the way for further increases, where resistance 114.54 seems crucial, where this year’s maxima are located.
