The US dollar has staged a minor technical correction higher against the Japanese yen currency, following a failed attempt to break the 108.20 support level. Going forward, the short-term recovery in the USDJPY pair could reach the 109.15 level before the decline resumes. Overall, the USDJPY pair is still bearish and is attractive to sell on bounces back towards the 109.00 resistance area.
The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 109.30 and 109.60 levels.
The USDJPY pair is only bearish while trading below the 109.15 level, key technical support is found at the 108.20 and 107.50 levels.
