USDJPY chasing bullish target

The US dollar has recovered back above 110.00 level against the Japanese yen currency following a brief correction towards the 109.70 support level. USDJPY bulls now appear to be launching a fresh attack towards key breakout resistance, at the 110.60 resistance level. Technical indicators on the four-hour time frame are still pointing higher as short-term bullish momentum continues to grow.

• The USDJPY pair is bullish while trading above the 109.66 level, key resistance is found at the 110.20 and 110.60 levels.

• If the USDJPY pair trades below the 110.00 level, key intraday support is found at the 109.66 and 109.00 levels.