The US dollar is attempting to move higher against the Japanese yen currency after the pair staged a strong recovery above the 111.00 level on Wednesday. US equity markets made a strong recovery yesterday, which helped to boost overall risk-sentiment in financial markets. The MACD indicator on the four-hour time frame is starting to trend higher, pointing to further intraday strength in the USDJPY pair.
The USDJPY pair is intraday bullish while trading above the 111.00 level, key technical resistance is found at the 111.40 and 111.88 levels.
If USDJPY pair trades below the 111.00 level, sellers may test towards the 110.80 and 110.26 levels
