The U.S dollar continues to trade higher against the Japanese Yen, hitting 114.22, as the U.S dollar index gains traction following the FOMC policy meeting. Divergence in fiscal policy between the U.S Federal Reserve and the Bank of Japan continues to drive the USDJPY pair. Price-action currently trades above the 114 level, ahead of the Trump administrations pending choice for the new FED Chair, which is set to be announced during today’s U.S trading session.
The USDJPY pair remains intraday bullish why trading above the key 113.89 technical level. Further upside should be expected toward the 114.24 and 114.50 resistance levels.
Should price-action trade below the 113.89 level for an extended period, further USDJP selling towards the 113.57 and 114.33 technical support zones remains likely.
