USD/JPY breaks above 118.50

FXStreet (San Francisco) - The US Dollar rally from 117.25 versus the Japanese Yen is now testing prices above 118.50 after climbing over 125 pips in the American session.

Currently, USD/JPY is trading at 118.55, up 0.60% on the day, having posted a daily high at 118.60 and low at 117.25. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.

USD/JPY levels

Above the 118.50, the USD/JPY will face next resistances at 118.75 and 119.00. To the downside, supports are at 118.30, 118.00 and 117.90.