USDJPY attempting bullish breakout
The US dollar is continuing to press higher against the Japanese yen currency on Tuesday, with buyers now testing the important 110.00 resistance level. If bulls can break above the 110.00 level, technical buying towards the 110.40 area seems possible. Technical indicators still remain bullish despite the strong one-hundred and fifty point move higher in the USDJPY pair.
The USDJPY pair is strongly bullish while trading above the 109.60 level, key technical resistance is found at the 110.40 and 110.80 levels.
If the USDJPY pair moves below the 109.60 level, sellers may test towards the 109.30 and 109.14 support levels.