The US dollar is rising against the Japanese yen as traders start to sell safe-haven currencies and preference riskier asset classes. The USDJPY pair now needs to anchor price above the 106.30 resistance area to cement further gains towards the 107.00 resistance zone. Failure to hold price above the 106.30 level could cause a technical retest of the pairs 200-day moving average, at 105.60.
The USDJPY pair is only bullish while trading above the 105.60 level, key resistance is found at the 106.30 and 107.00 levels.
The USDJPY pair is only bearish while trading below the 105.60 level, key support is found at the 105.25 and 104.90 levels.
