The US dollar has continued to recover higher against the Japanese yen currency after sellers failed to breach the 106.00 support level. The USDJPY could start to rally back towards the 107.00 resistance level if the recent upside momentum pair continues. Looking at the downside potential, a loss of the 106.20 support level could see the USDJPY pair falling towards the 105.50 level.
The USDJPY pair is only bearish while trading below the 106.80 level, key support is found at the 106.20 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 106.80 level, key resistance is found at the 107.00 and 107.20 levels.
