The US Dollar is struggling to continue higher against the Japanese Yen after prices cleared resistance at 102.54, the 38.2% Fibonacci retracement. A close back below this barrier targets the 23.6% level at 101.85 anew. Alternatively, renewed upward momentum that takes prices back above 102.54 sees the next layer of resistance at 103.09, the 50% Fib.
An actionable trade setup is absent for the time being. Yesterday's resistance break seems to call for further gains but the severity of the current intraday pullback raises a strong possibility of that having been a false breakout. With that said, downward reversal confirmation is absent for now. We remain flat for now.