The U.S dollar continues to ease around the 114 level against the Japanese yen, after the announcement of the new FED Chair Jerome Powell had been in-line with what market participants had been expecting. The USDJPY pair showed a muted reaction after the news, with price-action continuing to trade just below the three and a half month high, at 114.44. Traders now await the release of the U.S Non-farm payrolls job report, with 300,000 new U.S jobs expected to be created in October.
USDJPY buyers retain control of the pair while price-action holds above the 113.89 level. Further intraday buying towards the 114.24 and 114.50 levels remains most likely.
If intraday USDJPY sellers push price-action below the 113.89 level for a sustained period, a further decline towards the 113.57 and 113.33 levels remains the most likely scenario.
