The US dollar remains in recovery mode against the Japanese yen currency after last weeks big drop towards the 109.00 support area. USDJPY bulls now need to overcome the 109.90 resistance level to encourage the next strong round of technical buying. USDJPY bulls also need to hold the price above the 109.60 level this week to avoid a reversal back towards the 109.20 support area.
The USDJPY pair is only bullish while trading above the 109.60 level, key resistance is found at the 109.90 and 111.00 levels.
The USDJPY pair is only bearish while trading below the 109.60 level, key support is found at the 109.20 and 109.00 levels.
