The US dollar has moved to fresh multi-month trading high against the Japanese yen currency after buyers broke through the 108.60 level on Tuesday. The USDJPY pair may test the 109.30 resistance level if bulls can maintain price above the 108.60. Overall, medium-term analysis shows that the USDJPY pair could reach the 110.00 level if bullish momentum continues to build.
• The USDJPY pair is only bearish while trading below the 108.60 level, key technical support remains at the 107.90 and 106.90 levels.
• The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels
• The USDJPY pair is only bearish while trading below the 108.60 level, key technical support remains at the 107.90 and 106.90 levels.
• The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels
