The US dollar has surged to a fresh 2020 trading high against the Japanese yen currency after breaking above the 110.30 technical area. The USDJPY is now testing towards the 111.50 level, which is a key medium-term technical resistance area for the pair. The recent up move could prompt a rally towards the 112.00 and possibly the 113.00 level, while rejection from the 111.00 level may cause a decline back towards the 110.30 area.
The USDJPY pair is only bearish while trading below the 110.30 level, key support is found at the 110.00 and 109.70 levels.
The USDJPY pair is only bullish while trading above the 110.30 level, key resistance is found at the 111.00 and 111.50 levels.
