USD/JPY rises to 105.57, up 0.24% intraday, while heading into the European open on Monday. In doing so, the pair keeps its upside break of a falling trend line from August 28. As a result, bulls are geared towards a 200-bar SMA level of 105.67. During the USD/JPY bulls’ further dominance past-105.85, multiple resistances can probe the upside below 106.30, a break of which will attack the previous month’s peak surrounding 106.55.
Alternatively, the resistance-turned-into-support trend line around 105.20 and the 105.00 thresholds offer immediate support during the quote’s U-turn. Though, USD/JPY sellers will be hard to convince unless breaking a broad support area between 104.95 and 104.85 including multiple levels marked since mid-September.