The US dollar is on the rise against the Japanese yen currency as the pair continues to be dragged higher by strength in the greenback and risk-on market sentiment. The USDJPY pair could test back towards the 110.00 level one final time before making a decisive move. The four-hour time frame shows that a head and shoulders pattern remains valid as long as the price holds under the 110.30 level.
The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 110.10 and 110.30 levels.
The USDJPY pair is only bearish while trading below the 109.30 level, key support is found at the 108.80 and 108.30 levels.
