The US dollar is advancing higher against the Japanese yen on Thursday, with the pair breaking range and moving towards its weekly pivot point. Further intraday gains in the USDJPY pair are expected if bulls can hold price trades above the pivotal 111.60 level. The overall upside objective of the rising price channel on the four-hour time frame is currently located at the 112.80 level.
The USDJPY pair is intraday bullish while trading above the 111.60 level, key resistance is found at the 112.00 and 112.80 levels.
If the USDJPY pair falls below the 111.45 level, sellers may test towards the 111.30 and 111.10 support levels.
