USDJPY INTRADAY BULLISH ABOVE 107.30

The U.S dollar has regained upside momentum against the Japanese yen currency, as a peace deal between North and South Korea and rising global stock markets help to lift market sentiment. The USDJPY pair currently trades around the level 107.30 level, after hitting a new weekly price-low of 106.88, on Tuesday. Traders continue to look to the 107.30 level for intraday direction, with medium-term USDJPY dip-buyers now starting to emerge.

• The USDJPY pair is only bearish while trading below the 107.30 level, key weekly support remains at the 106.88 and 106.60 levels.

• If the USDJPY pair maintains price-action above the 107.30 level, buyers may be encouraged to retest towards the 107.48 and 107.77 resistance levels.