USDJPY 105.00 resistance

The US dollar has staged a strong upside recovery against the Japanese yen currency, with the pair reaching the 105.00 resistance level. The USDJPY pair has staged a retracement back below the 103.50 level and remains vulnerable to further losses while trading below the 104.50 level. The lower time frames show that bullish MACD price divergence is present towards the 106.50 level.

• The USDJPY pair is only bearish while trading below the 104.50 level, key support is found at the 103.00 and 100.50 levels. 

• The USDJPY pair is only bullish while trading above the 104.50 level, key resistance is found at the 105.00 and 106.50 levels.