USDJPY intra-day analysis
USDJPY (113.61): USDJPY continued to extend it’s gains, which come after the strong bullish engulfing pattern that was formed. The upside momentum is expected to see USDJPY pushing towards the previous resistance level near 114.00. In the short term, any pullback is likely to be limited to the 113.00 region. The upside bias will shift on a bearish close below the 113.00 region. In this case, we can expect USDJPY to push lower to test the previous support level formed at 112.00.