The US dollar has continued to rally against the Japanese yen currency during the European trading session, with the pair reaching the 111.85 level. Going forward, the 112.00 level offers the strongest form of technical resistance prior to the 112.38 level. Looking at the downside, the 111.10 level now acts as the strongest form of near-term technical support for USDJPY pair.
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 112.00 and 112.38 levels.
