USDJPY recovers with eyes on 107.21 resistance zone. This is coming on the back of its Monday gain. On the upside, resistance comes in at 107.00 level. Above this level will turn attention to the 107.50 level. Further out, we expect a possible move towards the 108.00 level. A cut through here will open the door for more gain towards the 108.50. On the downside, support comes in at the 106.00 level where a break will target the 105.50 level. Below that level will turn focus to the 105.00 level and then lower towards the 104.50 level. On the whole, USDJPY faces further upside pressure.
