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USD/JPY tests 115.00; bullish pressure persists

FXStreet (San Francisco) - After testing the 115.00 level several times in the American session, the USD/JPY seems to be ready to break above that level as the 1 hour chart is showing indicators are back in positive territory.

Currently, US dollar to Japanese Yen price action is trading at 115.00, up 0.22% on the day, having posted a daily high at 115.53 and low at 114.06. USD/JPY spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

USD/JPY sentiment

"Despite the wide intraday range and the 150 pips slide, the ruling bullish trend remains firm in place, with the 1 hour chart showing indicators back in positive territory, albeit showing no strength at the time being, for the most flat," FXStreet chief analyst Valeria Bednarik comments.

If the pair successfully break above 115.00, it will find next resistances at 115.20 and 115.50. To the downside, supports are at 114.40, 114.00 and 114.75.

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