USDJPY TESTING 110.79 RESISTANCE

The USDJPY pair continues to trade around the key 100.79 level, after rising sharply from the 110 level, following solid jobs figures from the U.S NFP jobs report on Friday.

During the European session, the USDJPY pair has managed to close above the H1 time frame 200 period moving average, at 110.74, although the 111.05 level still remains strong intraday resistance.

The USDJPY pair remains bullish in the short term whilst trading above the daily pivot point, at 110.67. However, the pair still remains bearish in the medium and long term.

Key resistance for the USDJPY pair is found at the weekly pivot point, at 111.15, with further strong intraday found at the 111.32 level, which represents the USDJPY 200-week moving average.

To the downside, support the USDJPY pair is found at the 110.74 level, the daily pivot point comes in at 110.67, with critical intraday support found at the 100 hour moving average, at 110.45.