USDJPY BULLS NEED TO BREAK 111.80
The US dollar continues to trade to the upside against the Japanese yen currency on Wednesday, with price earlier hitting 111.70. The sentiment surrounding the USDJPY pair received a boost after the US ISM Manufacturing survey climbed to a fourteen-year high. Buyers need to break above the 111.80 to keep the momentum intact, while sellers need to break the 110.90 support level to change the short-term trend.
The USDJPY pair remains bullish while trading above the 111.39 level, key resistance is found at the 111.80 and 112.05 levels.
If the USDJPY pair trades below 110.90 level, sellers will likely test the 110.68 and 110.10 support regions.