USDJPY PROBING TOPSIDE OF MEDIUM-TERM RANGE
The U.S dollar has moved to the top-side of its recent medium-term trading range against the Japanese yen, as financial markets look past potential military action from the United States against Syria. The USDJPY pair is currently trading around the 107.50 region, after earlier finding strong weekly resistance from the key 107.66 level. Traders now look towards Jobs and Consumer Confidence data from the United States economy, with risk-sentiment finely balanced heading into the weekend.
The USDJPY pair remains bullish while trading above the 107.00 level, intraday resistance is located at the 107.66 and 108.00 levels.
Should the USDJPY pair move below the 107.00 level, key intraday support is located at the 106.60 and 106.00 levels.