USDJPY testing higher

The US dollar is attempting to move higher against the Japanese yen on Monday, with the pair holding a slight bullish bias above the 111.60 level. The one-hour time frame is showing a small bearish pattern, with the 110.90 level the overall downside target. Buyers need to once again move price above the 112.00 level to invalidate the bearish pattern on the one-hour time frame.

• The USDJPY pair is bullish while trading above the 111.60, key intraday resistance is found at the 111.80 and 112.00 levels.

• If the USDJPY pair trades below the 111.60 level, key intraday support remains at the 111.45 and 110.90 levels.