USDJPY breakout underway
The US dollar as moved above the 109.00 resistance level against the Japanese yen, following bullish comments towards an upcoming Sino-US trade deal. The USDJPY pair has the ability to rally towards the 110.00 level while trading above the 109.15 level. Only sustained weakness under the 109.15 support level can negate the short-term bullish outlook surrounding the USDJPY pair.
The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 109.65 and 110.00 levels.
The USDJPY pair is only bearish while trading below the 109.15 level, key technical support is found at the 108.20 and 107.50 levels.