USD/JPY eyes the 113.00 handle ahead of US trading

USD/JPY marches higher on the session


There hasn’t been anything that is able to put a dent in the move higher in the pair today and right now we’re seeing price climb above the 22 October high of 112.89. The next resistance level to look out for will be offers at 113.00 followed by the July high at 113.17.

E-minis are holding up well trading 0.6% higher and that’s still helping to keep the pair bid among other things. Sentiment still relies heavily on the US cash equity market though and I’d wait on that before confirming whether or not a break above 113.00 will be able to hold.

But for now, buyers are well in control and with the dollar pushing higher against the likes of the euro and pound on the day, it’s looking to be a solid end to the month for the bulls despite jitters in the equities space.

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