USDJPY NOW INTRADAY BULLISH ABOVE 110.80

The US dollar has finally broken its recent short-term trading-range against the Japanese yen between the 110.25 and 110.80 levels, moving back above the key 111.00 resistance level. The USDJPY pair is being boosted by a return to risk-on trading sentiment and a strong move higher in global equity market prices. Buyers will look for further upside above the 111.40 level, while sellers will look to move price back below the 110.80 level.

• The USDJPY pair is strongly bullish while trading above the 110.80 level, key resistance is found at the 111.40 and 112.20 levels.

• If the USDJPY pair moves below the 110.80 level, sellers will likely test towards the 110.45 and 110.25 support levels.