The US dollar continues to trade above the 107.00 level against the Japanese yen as investors continue to move into the greenback. A breakout above the 108.00 level could see the USDJPY pair rallying towards the 108.90 and possibly the 110.00 level. Continued weakness below the 108.00 level could see the USDJPY pair falling back towards key weekly support, around the 104.50 level.
The USDJPY pair is only bearish while trading below the 108.00 level, key support is found at the 106.00 and 104.50 levels.
The USDJPY pair is only bullish while trading above the 108.00 level, key resistance is found at the 108.90 and 110.00 levels.
