USDJPY 110.80 upcoming resistance
The US dollar continues to advance against the Japanese yen currency on Tuesday, as the bullish inverted head and shoulders pattern on the four-hour time frame continues to play out. Further gains towards the 110.80 resistance level should be expected on an intraday basis. If the 110.40 support level is broken to the downside, USDJPY sellers will likely test the inverted head and shoulders pattern neckline around the 110.00 support region.
The USDJPY pair is strongly bullish while trading above the 110.40 level, key technical resistance is found at the 110.80 and 111.40 levels.
If the USDJPY pair moves below the 110.40 level, sellers may test towards the 110.24 and 110.00 support levels.