USDJPY Turning bullish
The US dollar has risen to its highest trading level in three-weeks against the Japanese yen currency, following the delay in the second round of US coronavirus stimulus. Technical analysis shows that a new short-term bullish trend has started, following the break above the 105.80 level. The daily time frame highlights the 106.40 level as a potential bullish target for the USDJPY pair.
The USDJPY pair is only bearish while trading below the 105.80 level, key support is found at the 105.40 and 105.00 levels.
The USDJPY pair is only bullish while trading above the 105.80 level, key resistance is found at the 106.20 and 106.40 levels.