Daily analysis of USD/JPY for March 8, 2018


The situation of this currency trading instrument
remains unchanged. Price is currently above the demand level at 106.00, going
towards the supply level at 106.50. There is another demand level at 105.50.
All these are happening in the very-short term. The medium-term bias on the
market is neutral.

The long-term bias is bearish. The EMA 11 is below
the EMA 56, and the RSI period 14 is slightly below the level 50. There is
currently a Bearish Confirmation Pattern in the 4-hour chart, which pinpoints
further southwards movement (provided the market does so).

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