The US dollar has surged higher against the Japanese yen currency after the Bank of Japan disappointed investors at today’s monetary policy meeting. The USDJPY pair has a strong bullish intraday bias while trading above the 111.37 technical level. Traders will now look to the release of key PCE inflation data from the United States economy.
The USDJPY pair is intraday bullish while trading above the 111.37 level, key resistance is found at the 112.20 and 113.00 levels.
If the USDJPY pair falls back below the 111.37 level, sellers will likely test towards the 110.55 and 110.25 levels.
