USDJPY TURNS BULLISH ABOVE 113.40
The U.S dollar has moved higher against the Japanese Yen during the European trading session, hitting 113.77, as intraday sellers failed to contain price below the key 113.40 level. The pair currently sits around the price-highs of the day, as traders await the release of United States Manufacturing and Service PMI data for the month of October.
The USDJPY pair is increasingly bullish while trading above the key 113.40 technical level. Further bullish advancement towards 113.89 and 114.10 remains likely. Extended weekly resistance is found at the 114.43 and 115.00 levels.
Should intraday sellers push price-action below the key 113.40 level for a sustained basis, a deeper decline towards the 113.23 and 112.89 should follow.