The US dollar has broken higher against the Japanese yen, amidst fresh hopes that the United States and China may strike a trade deal. The recent bullish move above the USDJPY pairs 100-period moving average on the four-hour time frame is also encouraging technical buying. Overall, a move towards the 110.00 level should be expected while price trades above the key 109.19 to 109.08 support region.

The USDJPY pair is strongly bullish while trading above the 109.08 level, key technical resistance is found at the 109.60 and 110.00 levels.

If the USDJPY pair trades below the 109.08 level, sellers may test towards the 108.80 and 108.40 levels.

- advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.