USDJPY sideways trading

The US dollar is trading sideways against the Japanese yen as trading action in the pair starts to subside as traders prepare for the Christmas holiday. The USDJPY pair needs to break from the 109.15 to 109.75 level to break from range bound trading conditions. Overall, the greenback is starting to strengthen across the board, which makes an upside breakout in the USDJPY pair more likely.

•  The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 109.70 and 110.20 levels. 

• The USDJPY pair is only bearish while trading below the 109.15 level, key technical support is found at the 108.60 and 108.20 levels.