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.