Chart - Courtesy Trading View
USD/JPY was trading 0.19% higher on the day at 115.09 at around 05:15 GMT, slightly lower from session highs at 115.14.
The pair tested levels unseen since Mar 2017, further gains on the cards as technical indicators also support further upside.
US President Joe Biden reappointed Federal Reserve Chair Jerome Powell for a second term, strengthening bets for interest rate hikes.
The Bank of Japan has maintained one of the most dovish monetary policy stances among major central banks, while the Fed has begun tapering its asset purchase program.
Monetary policy divergence is likely to act as a major tailwind for the pair, driving prices higher.
Major Support Levels:
S1: 114.45 (5-DMA)
S2: 113.97 (21-EMA)
S3: 113.58 (Weekly low)
Major Resistance Levels:
R1: 115.50 (March 2017 high)
R2: 116
R3: 116.66 (88.6 Fib)
Summary: USD/JPY trades with a bullish bias. Scope for test of 116 levels. Bullish invalidation only below 21-EMA.


FxWirePro: GBP/NZD attracts buying interest, 38.2% fib eyed
FxWirePro: EUR/NZD uptrend loses steam, remains on bullish path
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike
Aussie-Yen Holds Firm Post-BOJ Rate Boost: Intraday Bullish Momentum Intact
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro- Woodies Pivot(Major)
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro- Woodies Pivot(Major)
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K
GBPJPY Rockets Post-BOJ Hike: Bullish Surge to 210 in Sight – Buy Dips Targeting 212
FxWirePro- Major European Indices
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro:EUR/AUD eases but bullish outlook persists 



