The US dollar appears increasingly bullish against the Japanese yen currency after briefly breaking above the psychological 110.00 level. The breakout above the 109.70 level could see the USDJPY pair rallying towards the 111.00 resistance area over the coming days. Only sustained intraday weakness under the important 109.15 level would start to worry medium-term USDJPY bulls.
The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 110.20 and 110.70 levels.
The USDJPY pair is only bearish while trading below the 109.15 level, key support is found at the 109.00 and 108.60 levels.