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.