The US dollar is starting trade higher against the Japanese yen currency, following earlier dovish comments from Bank of Japan Governor Kuroda. If the USDJPY break above the 110.80 resistance level, the intraday sentiment towards the pair will turn bullish. The four-hour time frame is currently showing bearish MACD price divergence, with price rising while the MACD histogram declines.
The USDJPY pair is bullish while trading above the 110.80 level, key technical resistance is found at the 111.10 and 111.40 levels.
If the USDJPY pair trades below the 110.40 level, sellers may test towards the 110.24 and 110.00 support levels.
