USDJPY BUYERS NEED TO BREAK 110.16 LEVEL

The US dollar continues to trade around the 110.00 level against the Japanese yen currency, as the pair advances to fresh monthly trading-highs. The USDJPY pairs move higher is currently finding strong resistance from the 110.16 level, which represents its key 200-day moving average. Traders remain focused on risk-on trading sentiment, and the US dollar index recent decline below the 94.00 level.

• The USDJPY pair is strongly bullish while trading above the 110.00 level, key resistance is found at the 110.16 and 110.40 levels.

• Key intraday support for the USDJPY pair is currently located at the 109.40 and 109.00 levels.