The US dollar is on the rise against the Japanese yen currency, as the starts to gain bullish momentum above key weekly technical resistance. Technical analysis highlights that continued gains above the 105.60 level could see the USDJPY pair testing towards the 106.40 area. Traders should be aware that buyers need to move the pair above the 107.00 level in order for the pair to turn technically bullish.
The USDJPY pair is only bearish while trading below the 105.60 level, key support is found at the 105.00 and 103.50 levels.
is only bullish while trading above the 105.60 level, key resistance is found at the 106.40 and 107.00 levels.