FX.co ★ USD/JPY imminent upside breakout

USD/JPY upside pressure

The USD/JPY pair is still trapped between 113.80 and 112.76 levels. It continues to stay near 113.80 signaling upside pressure and an imminent breakout above 113.80. Escaping from this range pattern could bring fresh trading opportunities.

Failing to come back down towards 112.76 former low which stands as a downside obstacle indicates strong buyers. A larger downward movement could be confirmed if the USD/JPY pair drops below 112.76.

USD/JPY outlook

Passing above 113.80 and above 114.00 psychological level may announce potential further growth towards 115.00 psychological level. This scenario is seen as a buying opportunity.