USDJPY watching 108.35
The US dollar remains well-supported against the Japanese yen currency as the pair turns technically bullish for the first-time in nearly two months. A bullish inverted head and shoulders pattern is predicting more short-term gains for the USDJPY pair towards the 110.00 level. A break under the 108.35 level could cause traders to sell the USDJPY pair towards the 108.00 support zone.
The USDJPY pair is only bullish while trading above the 108.00 level, key resistance is found at the 109.00 and 110.00 levels
The USDJPY pair is only bearish while trading below the 108.00 level, key support is found at the 107.50 and 107.00 levels.