The US dollar has continued its breakout rally against the Japanese yen currency as risk-on trading sentiment in broader financial market improves. The USDJPY pair will turn technically bullish over the medium-term if price moves above the 108.30 resistance level. Traders should note that a breakout above the 108.30 resistance level could cause the USDJPY pair to rally towards the 111.00 area.
The USDJPY pair is only bearish while trading below the 107.30 level, key support is found at the 106.90 and 106.03 levels.
The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 108.30 and 109.00 levels.
