USDJPY continues to face further recovery pressure as it saw price extension on Monday. On the upside, resistance comes in at 108.50 level. Above here will turn attention to the 109.00 level. Further out, resistance stands at the 109.50 level. A cut through here will open the door for more gain towards the 110.00. On the downside, support resides at the 107.50 level where a break will target the 107.00 level. Below that level will turn focus to the 106.50 level and then lower towards the 106.00 level. On the whole, USDJPY faces further bull threats in the days ahead.
