USDJPY STRONGLY BULLISH ABOVE 113.10 LEVEL
The U.S dollar has continued to firm against the Japanese yen in early Friday trading, with price-action now trading well above the key 113.10 technical level. The USDJPY pair is currently trading around the 113.25 region, as daily buying momentum accelerates as the U.S dollar index recovers lost ground. Going forward, the 113.60 resistance zone is the next major technical barrier for medium and long-term USDJPY bulls. The upcoming U.S Non-farm payrolls job report will impact the pair also, with expectations high for a solid headline number.
Buyers retain control of the pair while price-action trades above the key 113.10 level, upside targets for the USDJPY pair are located at 113.60 and 114.40.
Should the USDJPY pair decline below the 113.10 technical level, well-defined daily support is found at 112.70 and 112.30.