The US dollar is moving higher against the Japanese yen currency, as the U.S dollar index surges to a fresh monthly trading high. The USDJPY pair may test towards the 108.00 resistance level if bulls continue to gain strength above the 107.70 level. To the downside, a sustained loss of the 107.70 level could provoke heavy technical selling toward the 106.90 support region.
The USDJPY pair is only bearish while trading below the 107.70 level, key technical support remains at the 106.90 and 106.50 levels.
The USDJPY pair is bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels
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