The US dollar continues to move higher against the Japanese yen currency, with price moving to a new monthly trading high this morning, hitting 111.23. The USDJPY pair currently trades around the 111.20 level, and remains strongly bullish on an intraday basis while trading above the key 111.00 level. Traders look towards the next move in the US dollar index, and scheduled speeches from FOMC members Bostic, Harker and Kashkari.
The USDJPY pair is intraday bullish while trading above the 111.00 level, resistance is currently found at the 111.47 and 111.99 levels.
If the USDJPY pair moves below the 111.00 level, sellers may test towards the 110.55 and 110.00 support level.
