USDJPY attempting to recover
The US dollar is starting to push higher against the Japanese yen currency after the pair briefly dropped towards the 106.90 level. The USDJPY pair may have reached its near-term bearish target but still remains vulnerable to further losses while trading under the 107.70 level. A break from the 106.90 to 107.70 range should prompt the next strong directional breakout in the USDJPY pair.
The USDJPY pair is only bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels.
The USDJPY pair is only bearish while trading below the 106.90 level, key technical support remains at the 106.50 and 106.00 levels.