Sun, Mar 07, 2021 @ 06:42 GMT

USDJPY Neutral Bias

The US dollar has a neutral trading bias against the Japanese yen currency, as the pair continues to trade sideways around the 105.00 level. The USDJPY pair needs to break from the 104.55 to 106.10 price range in order for a new short-term trend to form. Watch out for a one-hundred and fifty-point directional move in the USDJPY pair once the mentioned range is broken.

The USDJPY pair is only bearish while trading below the 104.55 level, key support is found at the 103.00 and 101.50 levels.

The USDJPY pair is only bullish while trading above the 106.10 level, key resistance is found at the 107.60 and 108.30 levels.

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