The USD/JPY pair pushed higher today and marked intraday high at 107.52.Currently the pair is trading around 107.40 but despite the gravitation above 107.00, the pair remains in a steady consolidative phase .
The dollar / yen made a move up yesterday, reaching a peak of 107.51 and hit 107.72 earlier this morning. The outlook remains up for testing 107.77 in the near future. A clear break above this level may cause further bullish pressure to test 108.50. Immediate support is seen at 107.35 (current bottom). A clear breakthrough under it could take the price to a neutral zone with testing at 107.00-106.60.
The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 107.66, gaining 0.28%. I believe that support is now at around 106.86, Tuesday's low, and resistance is at 107.86, the high of Friday's trading.
USD/JPY rallied today towards the amazing 108.75. Which is more important is that the pair conquered very significant resistance levels. Indicators on H4 support further advance and next bullish target is seen at 109.00.
The dollar recorded another win over the yen on Wednesday. The US currency continued the bullish trend since the beginning of the week and as a result the resistance at 109.30 was pierced. Short-term indicators remain in favor of the dollar. The session was opened at a price of 108.81 and the final line was cut 61 pips higher. Peak for the day was reached at 109.45.
The dollar / yen resumed its inertia yesterday, making a peak at 109.45. Expectations are bullish for testing the daily EMA 200 in the region of 109.60. A clear breakthrough over it will open the doors to resistance 110.50. Immediate support is 109.00, whose breakthrough can take the price to a neutral zone with testing at 108.50, but basically I stay in the bulls camp at this stage and any downward pressure can be considered as a good opportunity for long positions. My main technical views, however, remain neutral.
The US dollar was down against the Japanese yen on Friday. By the close of US trading, USD/JPY was trading at 109.05, losing 0.23%. I believe that support is now at around 107.63, Monday's low, and resistance is likely at 109.54, the high of Friday's trading.
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