The US dollar is holding firm around the 108.60 level against the Japanese yen currency as sellers fail to take back control of the pair. A breakout above the 109.00 resistance level would be a major game-changer for the USDJPY pair over the medium-term horizon. A sustained move above the 109.00 level could prompt a strong technical rally towards the 110.00 resistance level.
The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels.
The USDJPY pair is bearish while trading below the 108.60 level, key technical support is found at the 108.25 and 107.90 levels
