USDJPY SUPPORTED BY RISING MACD
The US dollar has moved to its highest trading level in two weeks against the Japanese yen, as the greenback starts to recover some of its early-week losses. The USDJPY pair retains a strong intraday bullish bias while trading above the 111.10 level and is also supported by the MACD indicator, which is steadily rising across the four-hour time frame.
The USDJPY pair is intraday bullish while trading above the 111.10 level, key resistance is now found at the 111.39 and 112.05 levels.
If the USDJPY pair trades below the 111.10 level, sellers will likely test towards the 110.55 and 110.10 support levels.