USDJPY Watching 104.50
The US dollar is still threatening a major technical breakout against the Japanese yen currency as the pair holds above the 104.00 level. Technical analysis shows that the final line of resistance for the USDJPY pair is located around the 104.50 resistance level. The ongoing up move in the USDJPY pair looks extremely promising and could eventually reach the 107.00 resistance level.
The USDJPY pair is only bullish while trading above the 104.00 level, key resistance is found at the 104.50 and 105.50 levels.
The USDJPY pair is only bearish while trading below the 104.00 level, key support is found at the 103.80 and 103.60 levels.