USD/JPY bulls nervous at yearly highs

FXStreet (Guatemala) - USD/JPY is trading at 105.15, having posted a daily high at 105.27 and low at 105.08.

USD/JPY is trading on the offer in the opening hour of Tokyo as the Nikkei opened up 0.82% despite the higher US treasury yields, and a possible cabinet reshuffle in Tokyo coming which may see with the Government pension fund to invest domestically. Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart indicators stand in extreme overbought territory and a pullback down to 104.80 is possible but without really affecting the dominant bullish trend.

USD/JPY support and resistance

Support levels: 104.80 104.30 104.00

Resistance levels: 105.45 105.90 106.30