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.