USDJPY support holds
The US dollar is recovering higher against the Japanese yen currency after finding strong technical support from the 109.70 level. Risk-on market sentiment is helping the USDJPY pair move higher, with the 110.20 resistance level the last remaining technical barrier before bulls target 111.00. Only a decline below the 109.70 support level would cause short-term traders to turn bearish at this stage.
The USDJPY pair is only bearish while trading below the 109.70 level, key support is found at the 109.30 and 109.00 levels.
The USDJPY pair is only bullish while trading above the 109.70 level, key resistance is found at the 110.20 and 111.00 levels.