The US dollar is once again trading above the 114.00 resistance level against the Japanese yen currency, following a brief dip towards the 113.50 support level. Buyers now need to break above the 114.19 level, to further encourage bulls to test the 114.54 level. Overall, the USDJPY pair remains well supported by strength in the greenback, with the US dollar index soaring to fresh 2018 trading highs.
The USDJPY pair is strongly bullish while trading above the 114.19 level, key technical resistance is now found at the 114.54 and 115.00 levels.
If the USDJPY pair trades below the 114.00 level, sellers may target the 113.51 and 113.37 support levels.
