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.