The US dollar has moved to a fresh monthly trading high against the Japanese yen currency, with the pair hitting 107.50. The USDJPY pairs key 50-day moving average is found at the 107.10 level and is now key technical support on any corrections lower. Overall, the 108.00 level is key upcoming resistance if USDJPY bulls can move price above the 107.50 level.
The USDJPY pair is bullish while trading above the 106.90 level, key resistance is found at the 107.50 and 108.00 levels.
The USDJPY pair is only bearish while trading below the 106.90 level, key technical support is found at the 106.40 and 106.00 levels.
