The U.S dollar has recovered bullish momentum against the Japanese Yen, hitting 113.30, after the U.S Senate passed the 2018 budget blueprint, setting the stage for the proposed tax reforms from the Trump administration. The USDJPY pair currently trades around the 113.19 level, as European traders react to the latest news from the United States.
The USDJPY pair is expected to move higher while trading above the key 112.89 technical level. Intraday upside targets are located at 113.43, 113.57 and 113.90 levels.
If buyers fail to push price above the 113.31 level, sellers will likely target the 112.89 level to test demand around this region. Further intraday support below 112.89 is located at the 112.70 and 112.58 level.
