USDJPY bullish above 109.70
The US dollar is still trading above the 110.00 resistance level against the Japanese yen, as buyers look towards a possible rally towards the 111.00 level. Going forward, continued gains above the 109.70 level should be considered bullish for the USDJPY pair. Looking at upcoming resistance for the USDJPY pair the 110.25 and 110.50 level appears to be the main technical obstacles ahead.
The USDJPY pair is only bearish while trading below the 109.70 level, key support is found at the 109.30 and 109.00 levels.
The USDJPY pair is only bullish while trading above the 109.70 level, key resistance is found at the 110.25 and 110.50 levels.