FX.co ★ USDJPY holds firmly above 108.50 ready for its next move higher

USDJPY is still above the Ichimoku cloud indicator and above both the tenkan- and kijun sen indicator. Price has broken the important resistance of 108.50 and holding above it is a positive sign.

Orange rectangle- support (previous resistance)

USDJPY is trading above both the tenkan- and kijun-sen indicators. Price is also above the Kumo (cloud) and holding above 108.50 would be supportive for the short-term bullish trend. Support is at 108.50 and next at 107.70. Major trend change level is at 107.20. USDJPY is making higher highs and higher lows.Until we see a cloud breakdown we consider each pull back as a buying opportunity.