USDJPY approaching key resistance.

The USDJPY is nearing the key 110.00 level weekly trend line which has confined the USDJPY is a triangle formation for the last 5 years. Anytime we get close to support or resistance we have to be ready for a possible breakout. With the SPX at all time highs the risk is increasing we get a breakout higher. A move above the 110.10 level could target the 111.50’s as this would be the 161% extension of the fall the last few weeks on coronavirus fears.