The US dollar is trading in the green for the week against the Japanese yen currency, despite the greenback remaining largely under pressure on the foreign exchange market. The lower time frames are showing that the USDJPY pair has tested back above the neckline of a large head and shoulders pattern. If the bullish price action continues then the USDJPY pair could towards the 108.90 level.
The USDJPY pair is only bullish while trading above the 108.45 level, key resistance is found at the 108.90 and 110.30 levels.
The USDJPY pair is only bearish while trading below the 108.45 level, key support is found at the 108.10 and 107.50 levels.
