USD/JPY Analysis: Jumps to 110.60

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The currency exchange rate broke the resistance levels of the weekly R1 at 110.13 and the weekly R2 at 110.51 to trade at the 110.40 level. 

In regards to the near-term future, most likely, the 61.80% Fibonacci retracement level at 110.77 will resist the rate to let it trade sideways at the 110.40 level for the rest of the day. 

On the other hand, the USD/JPY could break the resistance of the 61.80% Fibo to trade sideways near the upper boundary of the dominant pattern line at 110.80.

USDJPY

USDJPY

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