The US dollar is trading at a critical juncture against the Japanese yen currency as pair edges closer to the 107.00 resistance barrier. Continued gains past the 106.80 pivotal level could see the USDJPY pair testing towards the 107.30 resistance area. Repeated technical failure around current trading levels could see the USDJPY pair falling back towards the 104.80 support level.
The USDJPY pair is only bullish while trading above the 106.20 level, key resistance is found at the 106.80 and 107.30 levels.
The USDJPY pair is only bearish while trading below the 106.20 level, key support is found at the 105.80 and 104.80 levels.