From my initial analysis in mid-june, the USDJPY had a strong rejection of the 109.50 support level and moved over 450pips, forming a strong uptrend.
Although we have been seeing weakness in the US Dollar, the USDJPY had still continued climbing.
Therefore, it would be important to see if price is able to breach the 114 resistance level, to continue its climb.
Possible catalyst for this climb would be:
1) Yellen testifying on Wednesday and Thursday evening
2) US CPI and Retail sales data on Friday evening.
Although we have been seeing weakness in the US Dollar, the USDJPY had still continued climbing.
Therefore, it would be important to see if price is able to breach the 114 resistance level, to continue its climb.
Possible catalyst for this climb would be:
1) Yellen testifying on Wednesday and Thursday evening
2) US CPI and Retail sales data on Friday evening.