USDJPY watching 105.20

The US dollar has staged a minor recovery against the Japanese yen currency, with the pair advancing towards the 105.70 resistance zone. Technical analysis shows that the 105.20 support level is likely to act as a major intraday trading pivot for the USDJPY pair. Losses below the 105.20 level could see the USDJPY pair falling towards the technically important 104.60 support area.

• The USDJPY pair is only bearish while trading below the 105.70 level, key support is found at the 105.20 and 104.60 levels. 

• The USDJPY pair is only bullish while trading above the 105.70 level, key resistance is found at the 106.20 and 106.80 levels.