The US dollar is attempting to recover higher against the Japanese yen currency, after finding strong support from the 108.55 area. USDJPY bears may attempt to sell into strength this week, with the 109.10 resistance level a potential swing sell area. It should be noted if the USDJPY pair trades above 109.78 level this week when the bearish short-term case will be invalidated.
The USDJPY pair is only bullish while trading above the 109.10 level, key resistance is found at the 109.40 and 109.78 levels.
The USDJPY pair is only bearish while trading below the 109.10 level, key support is found at the 108.55 and 108.00 levels.
