The US dollar is staging a strong rally against the Japanese yen currency, with the pair testing towards the September monthly trading high. USDJPY bulls may attempt to rally the pair towards the 108.80 level if a breakout above the 108.48 resistance level occurs. Only a sustained move below the 107.70 support level can change the current sentiment towards the USDJPY pair.
The USDJPY pair is only bearish while trading below the 107.70 level, key technical support remains at the 106.90 and 106.60 levels.
The USDJPY pair is bullish while trading above the 107.70 level, key resistance is found at the 108.48 and 109.30 levels.
