USDJPY ATTEMPTING BULLISH BREAKOUT

The US dollar is once again moving to the upside against the Japanese yen, as rising global equity markets spark a move into riskier asset classes. The USDJPY pair is attempting a bullish breakout above the former weekly high and may soon target the 113.00 resistance level. Only a sustained move below the 112.45 support level can negate the current intraday bullish bias.

• The USDJPY pair is intraday bullish while trading above the 112.45 level, key resistance remains at the 113.00 and 113.30 levels.

• If the USDJPY pair trades below the 112.45 level, intraday sellers may test towards 112.20 and 111.90 support levels.