USD/JPY Asia Price Forecast: Greenback grinds up above the 110.00 figure vs. yen

 

 

USD/JPY broke above the 110.00 figure while trading above its main daily simple moving averages (SMAs). Bulls are eyeing at the 2020 highs. 

 

 

USD/JPY is trading in a rising wedge while above the main SMAs. The spot is challenging the 110.10 resistance and bulls want to break above it to reach January highs near the 110.34 level. A break above the January highs can lead to an acceleration towards the 110.60 level. Support is seen at the 109.92, 109.65 and 109.30 levels, according to the Technical Confluences Indicator.