USDJPY appearing bullish
The US dollar is gaining upside momentum above the 106.00 level against the Japanese yen currency, as the pair trades at a one-week high. Technical analysis shows a breakout above the 106.60 level could cause USDJPY bulls to test towards the 107.00 level. To the downside, a loss of the 106.20 support level could cause the USDJPY pair to fall towards the 104.80 level.
The USDJPY pair is only bullish while trading above the 106.20 level, key resistance is found at the 107.00 and 107.40 levels.
The USDJPY pair is only bearish while trading below the 106.20 level, key support is found at the 105.80 and 104.80 levels.