The US dollar continues to rise against the Japanese yen currency, with bullish pressing towards a major breakout above the 110.00 resistance level. Traders should watch for continued price stabilzation above the 109.70 level as a signal that USDJPY buyers intend to take the pair higher. Continued failure around the 109.70 resistance level should be taken as a bearish trading signal.
The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 110.00 and 110.50 levels.
The USDJPY pair is only bearish while trading below the 109.15 level, key support is found at the 109.00 and 108.60 levels.
