The US dollar is starting to correct lower against the Japanese yen, after being technically rejected from the 113.40 resistance level during the European trading session. The USDJPY pair is likely to become increasingly volatile ahead of the US mid-term election results. Buyers need to move price above the 113.40 level for further bullish advancement, while sellers need to break key trendline support.
The USDJPY pair is only bullish while trading above the 113.15 level, key resistance is now found at the 113.40 and 113.90 levels.
If the USDJPY pair trades below the 112.87 level, sellers are likely to test the 112.54 and 111.85 support levels.
