The US dollar is continuing its breakout against the Japanese yen currency, as the pair looks increasingly bullish above the 106.00 level. The weekly time frame shows multiple bullish technical signals, with the 107.65 level a possible upcoming target above the 107.00 level. Traders should expect the strong upside momentum in the pair to continue with the price trades above the 105.60 level.
The USDJPY pair is only bullish while trading above the 105.60 level, key resistance is found at the 107.00 and 107.65 levels.
The USDJPY pair is only bearish while trading below the 105.60 level, key support is found at the 105.25 and 104.90 levels.
