USDJPY 108.10 possible

The US dollar is moving higher against the Japanese yen currency, as the U.S dollar index surges to a fresh monthly trading high. The USDJPY pair may test towards the 108.00 resistance level if bulls continue to gain strength above the 107.70 level. To the downside, a sustained loss of the 107.70 level could provoke heavy technical selling toward the 106.90 support region.

•  The USDJPY pair is only bearish while trading below the 107.70 level, key technical support remains at the 106.90 and 106.50 levels.

•  The USDJPY pair is bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels