USDJPY 105.50 up next
The US dollar is continuing to push higher against the Japanese yen currency, following last weeks important technical breakout. According to technical analysis on the daily time frame, the 105.50 level is the next major upside target prior to the 106.30 level. In case the USDJPY pair starts to a pullback in early-week trading dip-buyers are likely situated around the 104.50 area.
The USDJPY pair is only bullish while trading above the 104.30 level, key resistance is found at the 105.00 and 105.50 levels.
The USDJPY pair is only bearish while trading below the 104.30 level, key support is found at the 104.10 and 103.80 levels.