The US dollar has moved sharply higher against the Japanese yen currency, with the pair starting to firm above the 109.00 technical level. According to technical analysis, the 110.00 resistance level remains a valid bullish target for the USDJPY pair. Sellers need to force a breakout under the 108.00 support level in order to increase technical selling towards the USDJPY pair.
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 109.90 and 110.10 levels.
