The US dollar finally broke above the key 110.03 resistance level, as US 10-year treasury-yields soared to a seven-year trading high on Tuesday. The USDJPY pair currently trades around the 110.25 level, after finding interim technical resistance from the 110.48 level. Traders continue to watch the greenback and US bond yields for a directional bias, with the 93.00 level now key support on the US dollar index.
The USDJPY pair is medium-term bullish while trading above the 110.03 level, key intraday technical resistance is located at the 110.48 and 111.00 levels.
If the USDJPY trades below the 110.03 level, the pair may fall towards the 109.80 and 109.39 support levels.
