USDJPY counter rally
The US dollar has launched a comeback against the Japanese yen, after sellers failed to gain traction below the technically important 109.90 level. USDJPY bulls could start to target a major test of weekly resistance, around the 111.50 level. At this stage, weakness below the 110.30 level should signal that the up move is starting to weaken.
The USDJPY pair is only bearish while trading below the 110.70 level, key support is found at the 110.30 and 109.90 levels.
The USDJPY pair is only bullish while trading above the 110.70 level, key resistance is found at the 111.00 and 111.50 levels.