The US dollar is gaining upside traction against the Japanese yen currency as positive risk sentiment continues to give the pair a boost. The USDJPY pair could test back towards the 105.80 level if buyers are able to hold price above the pivotal 104.50 level. Sustained weakness below the 104.50 level could see the USDJPY pair coming under pressure towards the 103.80 level.
The USDJPY pair is only bearish while trading below the 104.50 level, key support is found at the 104.00 and 103.80 levels.
The USDJPY pair is only bullish while trading above the 104.50 level, key resistance is found at the 105.00 and 105.80 levels.