USDJPY ATTEMPTING TO BREAK 113.81 RESISTANCE
The US dollar is pressing towards the best trading levels of the month so far against the Japanese yen after dip-buyers defended the 113.00 support level. The USDJPY pair is bullish while trading above the 113.37 level and is supported by intraday US dollar strength and rising optimism over Sino-US trade talks on Friday. A break above the 113.81 resistance level will likely prompt strong technical buying, while a move below the 113.37 level may provoke a test of the 112.90 support level.
The USDJPY pair is strongly bullish while trading above the 113.81 level, key resistance is now found at the 114.10 and 114.54 levels.
If the USDJPY pair trades below the 113.37 level, sellers are likely to test the 112.90 and 112.50 support levels.