The US dollar has continued its breakout rally against the Japanese yen currency as trade sentiment in the broader financial market improves. The USDJPY pair becomes technically bullish in the medium term if the price moves above the resistance level of 108.30. Traders should note that an outbreak above the resistance level of 108.30 can cause the USDJPY pair to battle the 111.00 range.
The USDJPY pair is only bearish while trading below the 107.30 level, key support is found at 106.90 and 106.03 levels.
The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 108.30 and 109.00 levels.