The US Dollar remained in a bullish zone above the 109.50 pivot level against the Japanese Yen. The USD/JPY pair recently started a fresh increase from 109.76 and climbed above the 109.90 resistance.
Moreover, the pair traded above a major bearish trend line with resistance near 110.00 on the hourly chart. It also broke the 76.4% Fib retracement level of the last slide from the 110.11 high to 109.76 low on FXOpen.
However, the pair is currently struggling to gain pace above the 110.10 level and the 50 hourly simple moving average. Therefore, there could be a minor dip towards the 109.90 level before it could climb higher again.
On the upside, the pair needs to surpass the 110.10 resistance level to continue higher towards the 110.20 and 110.30 resistance levels in the coming sessions
