The US dollar is staged a minor recovery against the Japanese yen during the European trading session as traders await US Factory and ISM non-Manufacturing data. The USDJPY pair could test towards its monthly pivot, at 107.45, if the recovery continues. Traders are likely to use the 107.45 level as a key swing trade area if US macroeconomic data underwhelms later today.
The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.35 levels.
The USDJPY pair is bullish while trading above the 107.45 level, key resistance is found at the 107.70 and 108.00 levels.
