USDJPY appearing more bullish
The US dollar has moved back above the 107.00 level against the Japanese yen currency as the greenback continues to attract buying interest. Technical analysis on the lower time frames shows that the USDJPY pair could test the 108.00 level if the 106.50 support level holds. A breakout above the 108.00 level exposes further upside towards the 108.80 level, and possibly even the 109.70 level.
The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 108.00 and the 108.80 levels.
If the USDJPY pair trades below the 106.90, sellers may test the 106.50 and 106.00 support levels.