USDJPY very bullish
The US dollar continues to trade above the pivotal 107.00 level against the Japanese yen despite global equity markets turning lower. The technicals for the USDJPY pair still point to more upside while price holds above the 107.00 to 107.10 support zone. The breakout above the 107.50 level in the short-term is likely to push the USDJPY pair towards the 108.10 resistance area.
The USDJPY pair is bullish while trading above the 107.00 level, key resistance is found at the 108.10 and 108.30 levels.
The USDJPY pair is only bearish while trading below the 107.00 level, key technical support is found at the 106.40 and 106.00 levels.