The U.S Dollar has recovered losses against the Japanese Yen during the European session, hitting 113.75, as the U.S dollar index moves higher across the board, recovering steep trading losses from Wednesday. Price-action currently trades around the 113.73 level on the USDJPY pair, as traders test intraday supply and demand around the key 113.70 technical region.
The USDJPY pair remains bullish while trading above the 113.72 level, further upside can be expected while above the 113.72 level, with buyers likely pushing price action towards the 113.89 and 114.13 technical levels.
Should USDJPY buyers fail to hold price-action above the 113.72 level, a continuation of yesterday’s bearish move can be expected towards the 113.40 and 113.23 levels.
