The US dollar briefly moved above the 108.00 level against the Japanese yen as risk-on trading sentiment improves ahead of the G20 leaders meeting. The USDJPY pair could test the 109.00 resistance level if the 108.55 level is broken over the coming sessions. Sustained weakness below the 107.80 support level will provide a clear trading signal that the technical correction is over.
The USDJPY pair is only bearish while trading below the 107.80 level, key support remains at the 107.00 and 106.40 levels.
If the USDJPY pair trades above the 107.80 level, key technical resistance remains at the 108.55 and 109.00 levels.
