USDJPY 108.30 resistance

The US dollar has continued its breakout rally against the Japanese yen currency as risk-on trading sentiment in broader financial market improves. The USDJPY pair will turn technically bullish over the medium-term if price moves above the 108.30 resistance level. Traders should note that a breakout above the 108.30 resistance level could cause the USDJPY pair to rally towards the 111.00 area.

• The USDJPY pair is only bearish while trading below the 107.30 level, key support is found at the 106.90 and 106.03 levels. 

• The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 108.30 and 109.00 levels.