USDJPY bullish bias still intact
The US dollar has continued to move higher against the Japanese yen during the European trading session, with the risk-sensitive pair finding interim resistance from the 111.10 level. Technical indicators are still rising on the four-hour time frame, while the US dollar index retains a strong intraday bullish bias. The USDJPY pair is likely to be driven by any news coming from trade negotiations between US and Chinese negotiators.
The USDJPY pair is strongly bullish while trading above the 110.80 level, key technical resistance remains at the 111.10 and 111.40 levels.
If the USDJPY pair moves below the 110.80 level, sellers may test towards the 110.40 and 110.00 support levels.