The U.S dollar continues to move higher against the Japanese yen currency, following better than expected U.S jobs data and a rebound in global equity markets. The USDJPY pair currently trades close to the 107.00 level, after finding strong dip-buying demand from then 106.00 support level on Wednesday. Traders now look to key break-out resistance at the 107.28 level, while stronger global equity markets may support a move into riskier asset classes.
If the USDJPY pair retains its bullish bias while trading above the 106.60 level, key technical resistance is then found at the 107.28 and 107.69 levels.
A move below the 106.60 level may support downside pressures on the USDJPY pair, with sellers pushing price-action back towards the 106.45 and 106.30 levels.
