The US dollar continues to press higher against the Japanese yen currency, following the recent reversal from the 107.90 support. An upcoming technical test of the 109.30 level is on the horizon, with a breakout above the October high likely to spark a rally towards the 110.00 level. Overall, the daily time frame shows the presence of an extremely large inverted head and shoulders pattern.
The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.30 and 110.00 levels.
The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 107.90 and 107.30 levels
