The US dollar continues to hold onto its gains against the Japanese yen currency, following the recent technical breakthrough above the 109.00 level. USDJPY buyers are likely to target towards the 109.60 resistance level as the US session progresses. At present, only a sustained multi-day price close below the 108.60 level can negate the bullish outlook towards the USDJPY pair.
The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.60 and 110.00 levels.
The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 108.20 and 107.90 levels