USDJPY only bullish above 106.90
The US dollar is still holding its early week gains against the Japanese yen currency as traders await the release of the FOMC Meeting Minutes later today. If bulls can break above the 106.90 level the USDJPY pair will turn bullish over the short-term. A sustained move back under the 105.50 support level would be extremely bearish for the USDJPY pair from a technical perspective.
The USDJPY pair is only bearish while trading below the 106.90 level, key support is found at the 106.00 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 106.90 level, key technical resistance is found at the 107.30 and 108.00 levels