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.