USD/JPY: Upward pressure on the dollar remains intact at this stage (UOB)

UOB believes that the USD/JPY could further expand its climb on the forex.

"The USD/JPY exceeded the target of 114.45/50, with a peak at 114.59. Although bullish momentum is not impulsive, the current reinforcement of the USD seems like it could expand even if the major resistance level at 114.95 should not let go easily (114.59 is already a strong resistance level). Support is at 114.00 but only a movement under 113.75 would indicate that the immediate pressure has diminished."