The US dollar is gaining strength against the Japanese yen currency, with the pair appearing increasingly comfortable above the 109.00 level. USDJPY bulls are now targeting a sustained breakout above the 109.30 level to encourage fresh buying. Overall, the 110.00 resistance level remains the near-term upside objective if buyers maintain the USDJPY pair above trendline support.
The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 110.0 levels.
The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 108.60 and 108.20 levels.
