The US dollar has opened the new trading month with a slight bullish bias against the Japanese yen currency after the Chinese economy posted better than expected manufacturing data. The USDJPY pair has a strong bullish intraday bias while trading above the 110.90 level, which is the key weekly pivot point. The 111.60 level offers the strongest form of near-term resistance above the 111.00 resistance level.
The USDJPY pair has a bullish bias while trading above the 110.90 level, key resistance is found at the 111.20 and 111.60 levels.
If the USDJPY pair fails to move price above the 110.90 levels, sellers may test back towards the 110.68 and 110.40 levels.
