The US dollar is pushing higher against the Japanese yen currency on Wednesday after sellers failed to hold price below the 106.00 level. The USDJPY pair is looking past intraday weakness in the US dollar index and is pushing back towards the 106.40 level. Overall, a breakout above the 106.40 level should lead to a major technical test of the important 107.00 level.
The USDJPY pair is only bullish while trading above the 106.40 level, key resistance is found at the 107.00 and 107.30 levels.
The USDJPY pair is only bearish while trading below the 106.00 level, key technical support is found at the 105.80 and 105.40 levels.
