The US dollar is attempting to recover higher against the Japanese yen currency, with the pair being boosted by broad based strength in the greenback. Technical analysis shows that gains above the 106.20 level could cause the USDJPY pair test towards the pivotal 106.60 level. A breakout above the 106.60 level could cause USDJPY bulls to test towards the current monthly high, around the 107.00 level.
The USDJPY pair is only bullish while trading above the 106.20 level, key resistance is found at the 106.60 and 107.00 levels.
The USDJPY pair is only bearish while trading below the 106.20 level, key support is found at the 106.00 and 105.80 levels.
