The US dollar has a bullish intraday trading bias against the Japanese yen currency as the pair remain well-supported above the 108.00 resistance level. Buyers have so far been unable to break above the USDJPY pairs former weekly trading high, at 108.37. Until the 108.37 resistance level is breached short-term USDJPY still have an outside chance of regaining control of the pair.
The USDJPY pair is only bearish while trading below the 108.00 level, key support is found at the 107.60 and 107.20 levels.
The USDJPY pair is bullish while trading above the 108.00 level, key technical resistance is found at the 108.37 and 108.60 levels.
