Technical Analysis

USD/JPY pulls higher above 110.00 amid a firmer dollar to start the session

USD/JPY trades up to a session high of 110.14

The dollar is slightly firmer to start the new week and that is keeping USD/JPY a little buoyed as the pair moves up nearly 0.2% to 110.14 currently.Invest in yourself. See our forex education hub.

In the grand scheme of things, the push and pull in the pair is still something that needs to sort itself out. Buyers are clinging on to near-term support around 109.60 but gains are also still more limited by daily resistance at 110.60-70 as well.

The choppiness in the past few weeks is clearly exemplified by the hourly chart:

As such, until there is a shove either back towards 109.00 or above key resistance around 110.60-70, the pair is still very much caught in a tug of war for now.

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