USD/JPY Asia Price Forecast: Greenback trades off the May’s highs vs. Japanese yen

 

 

USD/JPY is trading off the May’s highs above the 100 and 200 SMAs on the four-hour chart. Bulls want a continuation up of the movement started earlier in the month, possibly eyeing a break above the 107.75 resistance en route towards the 108.00 figure. However, a daily close below the 107.40 could be seen as negative for USD/JPY with bears then looking at the 107.00 figure level.