The U.S dollar has pulled back against the Japanese yen on risk-aversion, after putting in a bullish seven-week trading high on Friday, hitting 107.76. The USDJPY pair currently trades around the 107.20 level, as financial markets move into safe-haven asset classes, following the military action from the U.S, UK and France in Syria. USDJPY traders now look to the European and U.S markets reactions and key monthly Retail Sales data from the United States economy.
The USDJPY pair retains a bullish bias while trading above the 107.00 level, key resistance is now located at the 107.77 and 108.45 levels.
If the USDJPY pair trades below the 107.00 level, key sellers may test towards the 106.60 and 106.00 support levels.
