USDJPY triangle in focus
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.
The USDJPY pair is only bearish while trading below the 106.50 level, key support is found at the 106.00 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 106.50 level, key technical resistance is found at the 107.00 and 108.00 levels.
The USDJPY pair is only bearish while trading below the 106.50 level, key support is found at the 106.00 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 106.50 level, key technical resistance is found at the 107.00 and 108.00 levels.
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