USDJPY bulls targeting 112.00
The US dollar has continued to advance higher against the Japanese yen currency during the European trading, with the pair moving closer to key resistance. Traders should expect the USDJPY pair to target the 112.00 level while price holds above the 111.60 level. A break above the current month trading high, at 112.20, will likely accelerate technical buying towards the 112.80 resistance level.
The USDJPY pair is intraday bullish while trading above the 111.60 level, key resistance is found at the 112.20 and 112.80 levels.
If the USDJPY pair trades below the 111.60 level, sellers may test towards the 111.45 and 111.30 support levels.