USDJPY FURTHER BULLISH ABOVE KEY 113.40 LEVEL
The U.S dollar has moved to a new weekly price-high against the Japanese yen, hitting 113.64, during the European trading session. The move higher in the USDJPY pair occurred, as bond yields across the globe continue to move into new trading ranges. The USDJPY pair currently trades around the 113.55 level, pulling back slightly, after buyers failed to pierce above the December price-high, set a 113.75. The markets attention now turns to the United States economy, with a raft of high-impacting data set to be released for the month of November.
The USDJPY pair remains strongly bullish while trading above the 113.40 level, intraday buyers will again target the 113.80 level, with extended resistance found at 114.10.
Should the USDJPY pair move below the 113.40 level, sellers may move to target the 113.10 and 112.70 support levels.