The USDJPY continues its appreciation with prices now seen trading near the 114.00 handle. The strong ascent have managed to push USDJPY closed to testing the May 10th highs of 114.37. Establishing resistance here could see a short-term decline back to the lower support at 112.00.
However, a breakout above 114.37 could keep the bullish momentum going. In the near term, watch for support at 113.36 which has already witnessed some strong consolidation.
However, a breakout above 114.37 could keep the bullish momentum going. In the near term, watch for support at 113.36 which has already witnessed some strong consolidation.
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