USDJPY COULD SOON TEST 114.10 LEVEL
The US dollar has moved to a fresh 2018 trading high against the Japanese yen currency, as the greenback strengthens across the board. Buyers have now broken above the 113.17 level, triggering the bullish inverted head and shoulder pattern with a two hundred pip upside projection. Given the bullish price-action, the USDJPY pair could soon test towards the 114.10 level.
The USDJPY pair is strongly bullish while trading above the 113.17 level, key resistance is now found at the 113.80 and 114.10 levels.
If the USDJPY pair moves below the 113.17 level, key support is found at the 113.00 and 112.70 levels.