The US dollar has continued to advance against the Japanese yen, with the pair trading at its highest level since May 31st this year. USDJPY bulls are expected to test the 109.00 level, although the 110.00 level remains the larger medium-term upside target. Selling is currently not advised until a daily price closes below the 108.45 level has occurred or the price reaches 110.00.
The USDJPY pair is bullish while trading above the 107.60 level, key technical resistance is found at the 109.00 and 110.00 levels.
If the USDJPY pair trades below the 108.60 level, key technical support is found at the 108.45 and 108.10 levels.
