The US dollar has moved to a new monthly trading high against the Japanese yen currency, with the pair advancing towards the 109.50 resistance area. Technical analysis shows that the USDJPY pair could test towards the 110.00 resistance level in the short-term. The daily time frame currently shows that the 111.00 technical area offers the strongest form of weekly resistance.
The USDJPY pair is only bullish while trading above the 108.30 level, key resistance is found at the 110.00 and 111.00 levels
The USDJPY pair is only bearish while trading below the 108.30 level, key support is found at the 107.50 and 107.00 levels.
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