USDJPY breaking out
The US dollar is once again on the rise against the Japanese yen currency, with buyers starting to target the 109.00 resistance level. A sustained breach of the 109.30 resistance level exposes further upside in the USDJPY pair towards the 110.00 level. At this stage, only sustained weakness below the 108.60 level can negate the bullish intraday outlook for the USDJPY pair.
The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.30 and 110.00 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