The US dollar is attempting to stage a recovery against the Japanese yen after the pair found strong support from the 109.90 level. The 110.70 level is currently a possibly upside target if the USDJPY pair advanced above the 110.50 resistance area. Overall, continued defense of the 109.90 level may provoke a stronger bounce back towards the 111.00 resistance level.
The USDJPY pair is only bearish while trading below the 110.70 level, key support is found at the 110.30 and 109.90 levels.
The USDJPY pair is only bullish while trading above the 110.70 level, key resistance is found at the 111.00 and 111.50 levels.
