USDJPY minor pullback
The US dollar has pulled back towards the 109.50 support region against the Japanese yen after buyers failed to break through the 109.70 resistance area. The USDJPY pair still appear bullish, with the 111.00 level seen as a medium-term upside target. Traders are likely to target the 110.20 resistance areas a short-term upside target once the 109.70 level is broken.
The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 109.70 and 110.20 levels.
The USDJPY pair is only bearish while trading below the 109.15 level, key technical support is found at the 109.00 and 108.80 levels.