USDJPY TESTING KEY UPSIDE RESISTANCE
The U.S dollar has moved towards the upper-end of its recent medium-term trading range against the Japanese yen, as the U.S dollar index strengthens over rising U.S treasury bond-yields. The USDJPY pair currently trades around the 107.60 level, after finding interim daily resistance from the 107.72 level. Traders now look towards the February monthly price-high at 107.92, as it forms the strongest area of technical resistance before the 108.00 handle.
The USDJPY pair remains intraday bullish while trading above the 107.30 level, key resistance is now found at the 107.92 and 108.43 levels.
Should price-action on the USDJPY pair decline below 107.30 level, sellers will likely test towards the 107.00 and 106.60 support levels.