The US dollar has broken to the upside against the Japanese yen currency on Tuesday, as risk-on trading sentiment returns to broader financial markets. The USDJPY pair remains intraday bullish while trading above the 111.37 level and may test towards the peaks of September. The four-hour time frame also supports further gains as the MACD indicator continues to trend higher.
The USDJPY pair is only intraday bullish while trading above the 111.37 level, key resistance is found at the 111.75 and 112.05 levels.
If the USDJPY pair moves below the 111.37 level, key support is found at the 111.25 and 110.73 levels.
