The U.S dollar continues to strengthen against the Japanese yen, after better than expected economic data from the U.S economy further boosted the greenback. The USDJPY pair currently trades around the 108.70 level, after earlier moving to its highest level since early February, hitting 108.84. USDJPY traders are likely to follow the intraday direction of the U.S dollar index, and longer-dated U.S treasury yields.
The USDJPY pair is strongly bullish while trading above the 108.50 level, key resistance is now found at the 108.88 and 109.31 levels.
Should the USDJPY pair decline below 108.50 level, sellers will likely test towards the 107.92 and 107.45 support levels.
