USDJPY SUPPORTED BY RISING MACD
The US dollar has continued to rise against the Japanese yen during the European trading session, as the greenback surges higher across the board. The recent strong move higher in the USDJPY pair is also receiving technical confirmation, as the MACD indicator on the four-hour time frame trends higher. A clear breach of the 113.70 level exposes further upside towards the important 114.19 level.
The USDJPY pair is strongly bullish while trading above the 113.70 level, key resistance remains at the 114.19 and 114.54 levels.
If the USDJPY pair trades below the 113.40 level, key technical support is found at the 113.15 and 112.60 levels.