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.