USDJPY in Solid Uptrend
The US Dollar made a solid upside move during the past few days and moved above 114.00 against the Japanese Yen.
The USDJPY pair is currently following a solid bullish path with two channels and supports as 114.00 and 113.85 on the hourly chart. The second channel support is very important around 113.85-95 since it coincides with the 100 simple moving average.
As long as the pair is above 113.80 and the 100 hourly SMA, it may continue to move higher. The next major stop for buyers could be near 115.00 where there can be a reaction. Buying dips near 114.00 can be considered in the short term.