USDJPY NOW BULLISH ABOVE 109.39 LEVEL
The U.S dollar has moved sharply higher against the Japanese yen currency, hitting 109.80, after sellers failed to contain price below the 109.00 level. The USDJPY pair has also reacted to strength in the greenback, with the U.S. Dollar Index climbing to fresh 2018 trading-highs this morning. Upside pressures are likely to remain while the pair trades above the 109.39 level, with buyers, focused on further gains above the key 110.00 level.
The USDJPY pair remains intraday bullish while trading above the 109.39 level, further upside towards 110.00 and 110.40 seems possible.
If the USDJPY pair starts to trade below the 109.39 level, sellers are likely to test towards the 109.00 and 108.64 levels.