USDJPY CLEAR RANGE BREAK ONCE AGAIN NEEDED
The US dollar has moved back towards the 111.00 level against the Japanese yen currency, after Friday’s strong US jobs number caused a renewed bid in the greenback. The USDJPY pair has once again entered back into range bound trading conditions and lacks a clear directional bias. Sellers need to break the 110.73 support level, while buyers need to move the price back above the 111.25 resistance level.
The USDJPY pair is only intraday bearish while trading below the 110.73 level, key support is then found at the 110.37 and 110.10 levels.
If the USDJPY pair moves above the 111.25 level, key resistance is found at the 111.75 and 112.05 levels.