USDJPY MOVING TOWARDS JULY HIGH
The US dollar has moved within touching distance of the 113.00 level against the Japanese currency, with buyers now looking towards the July trading high, at 113.17. The USDJPY pair has soared over the rising US ten-year Treasury yield, as it approaches levels not seen since 2011. Buyers will aim to break the 113.17 level, while sellers need to push price below the 112.20 level.
The USDJPY pair is strongly bullish while trading above the 112.20 level, key resistance is found at the 113.17 and 113.44 levels.
If the USDJPY pair trades below the 112.40 level, key support is found at the 112.20 and 111.74 levels.