USD/JPY and NZD/USD Forecast April 20, 2018

The US dollar rallied slightly against the Japanese yen during training on Thursday but continues to struggle to go higher. I believe that the 108 level is a significant barrier, and if we can get above that we should continue to go higher. At that point, I would anticipate that the market should go to the 110 handle, which is even more important on longer-term charts. I believe that buyers will continue to come towards this market every time it pulls back, and I believe that there is a massive “floor” near the 105 level. In general, this tends to be a market that moves up and down with risk appetite, so if we can see stock markets start to rally again based upon global fundamentals, that should help this market to the upside as well. On the alternate side of things, if we see an escalation in a “risk off” sentiment type of situation, that will send this market reaching towards the 105 level again.

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