The US dollar has made a strong upside break against the Japanese yen as the pair looks past the recent declines in global equity markets. The four-hour time frame shows a large bullish pattern, which holds a one hundred and seventy point upside projection. Technical indicators are also turning higher and lending support to the recent range breakout in the USDJPY pair.
The USDJPY pair is bullish while trading above the 107.60 level, key technical resistance is found at the 109.00 and 1.1000 levels.
If the USDJPY pair trades below the 108.60 level, key technical support is found at the 108.45 and 108.10 levels.
