The US dollar
is holding onto its recent strong gains against the Japanese yen
currency, following a bullish
move above the 106.50 level. The four-hour time frame currently shows that a bullish
upside breakout from a large triangle pattern
has now taken place. The upside target is the 108.00 level, although USDJPY
buyers currently face strong technical resistance from the 107.00 level.
pair is only bearish
while trading below the 106.50 level, key support is found at the 106.00 and 105.50 levels.
pair is only bullish
while trading above the 106.50 level, key technical resistance is found at the 107.00 and 108.00 levels.