It is not surprising USD/JPY opened with a gap up of 50-pips and refreshed month’s highs at 114.10. The “action” has already eased by now but the pair still can’t fill the gap. The initial surge seemed to be short-term and USD/JPY is under some minor pressure near the 113.70 area.
At the same time, USD is getting a good support because the markets are still welcoming the Republican-controlled Senate's approval of a 2018 budget blueprint.
The USD-bulls don’t have any significant resistance ahead of 114.00 level. In case of this level’s capitulation, the next target will be the 114.50 area without any serious counter-arguments from the side.