USDJPY APPROACHING SYMMETRICAL TRIANGLE BREAK
The US dollar is gradually moving higher against the Japanese yen currency, ahead of a key speech from Federal Reserve Chair Jerome Powell this afternoon. The USDJPY pair is approaching resistance from a symmetrical triangle pattern, at 114.08, and the important former swing-high, at 114.19. Sellers need to move price below the 113.15 level to change the intraday sentiment surrounding the pair.
The USDJPY pair is strongly bullish while trading above the 114.08 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 112.60 and 111.23 levels.