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.