USDJPY 106.00 now key
The US dollar has recovered towards the 106.00 level against the Japanese yen currency, as the pair continues to recover following last weeks heavy sell-off. The 106.60 level offers the strongest form of resistance for the USDJPY pair before the 107.00 level. Traders that are bullish towards the pair in the short-term may buy into any pullbacks back under the 105.80 support area.
The USDJPY pair is only bullish while trading above the 106.20 level, key resistance is found at the 106.60 and 107.00 levels.
The USDJPY pair is only bearish while trading below the 106.20 level, key support is found at the 105.80 and 105.40 levels.