USDJPY testing rising wedge
The US dollar has moved to a new monthly trading high against the Japanese yen currency following more bullish news coming from Sino-US trade talks. The USDJPY pair has now moved above the 111.60 level and may attempt to move back inside the rising wedge pattern. Overall, the USDJPY pair will retain its strong weekly bullish bias while trade above the 110.90 support level.
The USDJPY pair is strongly bullish while trading above the 111.60 level, key resistance is found at the 111.90 an 112.25 levels.
If the USDJPY pair falls below the 111.30 level, key technical support is located at the 110.90 and 110.60 level.