USDJPY 109.00 breakout
The US dollar has finally picked a direction against the Japanese yen currency, with the pair soaring towards the 108.80 resistance level. If USDJPY bulls can break above the 109.00 level, we could soon see a major upside move towards the psychological 110.00 level. A sustained move below the 108.40 support level should be considered technically bearish for the USDJPY pair.
The USDJPY pair is only bearish while trading below the 108.40 level, key support remains at the 108.20 and 108.00 levels.
The USDJPY pair is bullish while trading above the 108.40 level, key technical resistance remains at the 109.00 and 110.00 levels.