The US dollar has advanced above the 108.00 level against the Japanese yen currency after US President Trump announced a delay in enforcing the latest round of Sino-US trade tariffs. The USDJPY pair has hit its first bullish target, of 108.10, and could advance further. Overall the 108.00 level is the next bullish target according to the size of the bullish pattern on the four-hour time frame.
The USDJPY pair is bullish while trading above the 107.00 level, key resistance is found at the 108.30 and 108.80 levels.
The USDJPY pair is only bearish while trading below the 107.00 level, key technical support is found at the 106.40 and 106.00 levels.
