The US dollar is recovering pressure against the Japanese yen currency, following bullish comment towards future Sino-US trade talks from President Trump. The USDJPY pair remains vulnerable to further losses if bears move price back under the 105.50 level. From a technical perspective, a break above the 106.00 level is likely to prompt a move towards the 106.40 level.
The USDJPY pair is only bullish while trading above the 106.00 level, key technical resistance is found at the 106.40 and 107.00 levels.
The USDJPY pair is bearish while trading below the 106.00 level, key support is found at the 105.00 and 104.60 levels.
