The US dollar has an important week ahead against the Japanese yen currency, as the pair sit finally balanced above the 106.00 level. Looking at the downside first, daily price closes under the 105.80 level may encourage technical selling towards the 104.70 area. To the upside, a breakout above the 106.70 area could prompt a technical test of the 107.40, and possibly the 108.00 area.
The USDJPY pair is only bullish while trading above the 106.40 level, key resistance is found at the 106.70 and 107.00 levels.
The USDJPY pair is only bearish while trading below the 106.40 level, key support is found at the 105.80 and 104.70 levels.
