USDJPY 108.60 pivotal
The US dollar is gaining strength against the Japanese yen currency on Monday, as risk sentiment continues to improve after the solid US monthly jobs report. The USDJPY pair faces a pivotal test of the resistance 108.60 level, after bouncing sharply from the 107.90 technical area. Overall, a breakout above the 108.60 level could see the pair testing back towards the 109.30 level.
The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels.
The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 107.90 and 107.30 levels