The US dollar is trading towards the best levels of the month against the Japanese yen currency, following the recent announcement of a Sino-US trade deal. The USDJPY pair could soar toward the 110.20 level if we see a sustained break above the 108.90 level this week. Any technical pullbacks in the USDJPY pair should find strong technical support from the 107.45 level.
The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.00 levels.
The USDJPY pair is only bullish while trading above the 107.45 level, key resistance is found at the 108.80 and 110.20 levels
