USDJPY STRONGLY BULLISH ABOVE 111.39 LEVEL
The US dollar had moved to its highest trading level against the Japanese yen currency since January this year, as buyers finally breached the important former swing-high, at 111.39. The strong technical breakout has provoked a fresh wave of buying in the USDJPY pair, with price now trading above the 112.00 level. The bullish sentiment surrounding the pair is likely to remain intact while price holds above 111.39 level.
The USDJPY pair is now strongly bullish while trading above the 111.39 level, key resistance is found at the 112.40 and 113.10 levels.
If the USDJPY pair moves below the 111.39 level, sellers will likely test towards the 111.00 and 110.80 support levels.