The US dollar has started to rally against the Japanese yen currency after breaking above the technically important 109.00 resistance level. The lower time frames currently show that the USDJPY pair is working within a large ascending triangle pattern. The top of the triangle pattern is currently located around the 111.50 level, while the bottom of the triangle is found at the 107.60 level.
The USDJPY pair is only bearish while trading below the 108.90 level, key support is found at the 107.60 and 106.50 levels.
The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 111.00 and 111.50 levels.
