The US dollar has opened the new trading weekly strongly against the Japanese yen currency, following an ongoing move higher in the U.S dollar index. USDJPY bulls may start to target the 109.00 level if price continues to hold above the pivotal 108.60 level. Weakness below the 108.60 level may see the USDJPY pair start to slip back under the important 108.44 support level.
The USDJPY pair is only bearish while trading below the 108.60 level, key support remains at the 108.44 and 108.00 levels.
If the USDJPY pair trades above the 108.60 level, key technical resistance is found at the 108.80 and 109.00 levels.
