The U.S dollar continues to hold above key support against the Japanese yen currency, with strong demand for greenbacks helping to underpin a bid tone in the pair. The intraday sentiment surrounding the USDJPY pair, remains bullish whilst price-action trading above the 105.50 level. Moving into the U.S session, traders await the release of U.S GDP numbers and the FED’s preferred measure of U.S inflation, Core Personal Expenditure.
The USDJPY pair retains a bullish bias whilst trading above the 105.50 level, further upside towards the 105.90 and 106.45 levels remains possible.
If the USDJPY pair trades below the 105.50 level for an extended period, sellers will likely move price-action towards the 105.24 and 104.64 support levels.