USDJPY STILL BULLISH ABOVE 113.89
The U.S dollar continues to make higher daily price-highs against the Japanese Yen, with buyers pushing the USDJPY pair to 114.27 during today's Asian trading session. Global stock markets continue to move to record levels, which is helping to underpin investor's appetite for the USDJPY. The pair currently trades around the 114.10 level, ahead of the start of the European trading session.
The USDJPY pair remains bullish while trading above the 113.89 technical level. Further buying can be expected towards the 114.27 and 114.50 levels while price-action holds above 113.89.
Should the USDJPY decline below the 113.89 level for a sustained period, a further decline towards 113.57 and 113.23 levels should be expected.