The US dollar has recovered back above 110.00 level against the Japanese yen currency following a brief correction towards the 109.70 support level. USDJPY bulls now appear to be launching a fresh attack towards key breakout resistance, at the 110.60 resistance level. Technical indicators on the four-hour time frame are still pointing higher as short-term bullish momentum continues to grow.
The USDJPY pair is bullish while trading above the 109.66 level, key resistance is found at the 110.20 and 110.60 levels. If the USDJPY pair trades below the 110.00 level, key intraday support is found at the 109.66 and 109.00 levels.