USDJPY STRUGGLING TO CLOSE ABOVE 114.36

The USDJPY pair is currently trading around 114.25 level, amid quiet market conditions, with price action struggling to gain bullish traction above the May monthly price highs, situated at 114.36.

With a lack of macro-economic data releases today, the USDJPY pair appears to be waiting for Federal Reserve Chair Janet Yellen's testimony on Wednesday, where she is expected to reiterate her hawkish policy stance on the overall U.S economy.

The USDJPY pair remains bullish on all time frames, despite recent sluggish trading action. Moving average indicators are turning up, pointing to further USDJPY intraday gains.

The calculated daily pivot point is located at 114.12, with further support found at 113.82 and 113.55.

Intraday resistance for the USDJPY pair is found at the May month high, at 114.36.

Above this region, further resistance is found at 114.83, and the psychological 115 level.