USDJPY ATTEMPTING TO RECOVER INTRADAY LOSSES

The USDJPY has moved back towards opening price levels, after briefly slipping under the 111 level, during the early European session.

In the U.S session, the economic calendar is fairly light, with Federal Reserve Board member Jerome Powell speaking, and continuing and existing jobless claims numbers released from the United States economy.

The USDJPY pair is building shorting bullish momentum, with a higher time frame price close above the H4 time frame 200 period moving average, at 111.39, needed to support the current up move higher.

Key technical resistance levels above the 111.39 area remain the former swing high at 111.79, and the daily time frame 200 period moving average at 112.30.