The US dollar is once again attempting to break above the pivotal 104.50 level against the Japanese yen currency, as the greenback starts to firm across the board. Technical analysis on the daily time frame shows that the USDJPY pair could surge higher if the 104.90 resistance level. Traders should be aware that failure to overcome the 104.50 level could weigh heavily on the USDJPY pair technically.
The USDJPY pair is only bullish while trading above the 104.50 level, key resistance is found at the 104.90 and 105.50 levels.
The USDJPY pair is only bearish while trading below the 104.50 level, key support is found at the 104.10 and 103.50 levels.
