USDJPY WATCHING 112.87 RESISTANCE LEVEL
The US dollar has soared higher against the Japanese yen currency, following bullish comments from US President Donald Trump over a potential trade deal with China. The USDJPY pair is bullish while trading above the 112.45 level and may accelerate intraday gains if the 112.87 resistance level is breached. The Moving Average Convergence Divergence indicator on the four-hour time frame has also started to trend higher.
The USDJPY pair is bullish while trading above the 112.45 level, key resistance is now found at the 112.87 and 113.30 levels.
If the USDJPY pair trades below the 112.45 level, sellers will likely test key trendline support, at the 112.04 level.