USD/JPY Makes a Move

USD/JPY has been trading with high volatility for the past few weeks. The pair made a low yesterday of 112.08 on a weaker US dollar and is now back at 113.47. Lately, it has been difficult to predict what the currency pair is going to do as we saw a lot of uncertainty in markets thus causing the pair to roam volatile.

Now it looks like the US dollar is gaining strength again so we might expect the move to continue higher. If this is the case, bulls might try to reach first target level at 113.93 and major short-term target at 115.13.

On the other hand, negative US dollar news will impact the pair in favor of the Japanese Yen and this will make way for first bear target at 112.20 and major short-term target at 111.12.  

Chart: USD/JPY H4