USDJPY BULLS NEED TO CLEAR 114.19

The US dollar continues to press higher against the Japanese yen currency, following a confirmed technical break above the 113.15 level. Going forward, buyers need to break above the 114.19 level to negate the recent bearish double-top created earlier this month. If the USDJPY pair is rejected from current trading levels, a further technical test of the 112.79 support level appears likely.

• The USDJPY pair is strongly bullish while trading above the 113.15 level, key resistance is found at the 114.19 and 114.54 levels.

• If the USDJPY pair trades below the 113.15 level, key technical support remains at the 112.79 and 112.53 levels.