USDJPY bulls return

The US dollar has made a strong upside recovery from the 111.00 level against the Japanese yen currency as investor demand for the greenback returns. The USDJPY pair has a strong intraday bullish bias while trading above the 111.60 resistance level. Technical indicators on the four-hour time frame suggest that the USDJPY pair can trade higher over the short-term.

• If the USDJPY pair trades above the 111.60 level, buyers may test towards the 112.00 and 112.45 levels.

• If the USDJPY pair trades below the 111.60, key intraday support is found at the 111.30 and 110.90 levels.