The US dollar is trading at multi-month highs against the Japanese yen currency, with the pair moving closer to the psychological 110.00 level. The USDJPY pair is close to the top of a large rising wedge pattern on the daily time frame, around the 109.90 level. A breakout above the wedge could spark technical buying towards the 110.35 resistance level at a minimum.
The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.90 and 110.35 levels.
The USDJPY pair is only bearish while trading below the 109.30 level, key technical support is found at the 109.00 and 108.60 levels.
