• USD/JPY rose on Tuesday as safe-haven demand continued to fade in the wake of Emmanuel Macron's victory in the French election and increased expectations for June US rate hike lifted greenback.
   
• Dollar strengthened after Fed funds futures showed investors are almost universally expecting the Federal Reserve to raise U.S. overnight interest rates at its next meeting, with close to a 90 percent perceived chance of an increase next month.
   
• The dollar was up 0.7 percent against the yen at 114.08 yen after earlier hitting its highest level since mid-March.
   
• Currently, the currency pair is trading at 114.16 levels, it is set to advance further towards 114.50 and later 115.00 levels in the short term.
   
• To the upside, immediate resistance can be seen at 114.33, a break above this level would take the pair towards next resistance level at 114.78.
   
• To the downside immediate support can be seen at 113.95, a break below this level will open the gates towards next level at 113.58.
  
  Resistance Levels
  
  R1: 114.33 (38.2% Retracement level)
  
  R2: 114.78 (61.8% Retracement level)
  
  R3: 115.00 (Psychological levels)
  
  Support Levels
  
  S1: 113.95 (50% Retracement level)
  
  S2: 113.58 (61.8% Retracement level)
  
  S3: 113.07 (Daily lows)