The USD / JPY pair has been trending upwards since the 1st of March 2016, with the bulls leading the price from as low as 112.15 to as high as 114.40.
Today, the pair stabilised between the levels of 113.98 and 114.40. In the event that the buyers manage to push the price above 114.50, the price could reach up to 115.76.
On the other side, where the sellers exert strong pressures and the price breaks below 113.59, the price could decelerate down to 113.03 and 112.13 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.