The US dollar has moved back towards the pivotal 109.70 level against the Japanese yen as the pair fails to gain traction above the 110.00 level. Bulls must defend the 109.70 level to avoid further USDJPY technical selling towards the 109.35 support region. A strong weekly price close above the 110.00 resistance level should be considered extremely bullish for the USDJPY pair.
The USDJPY pair is only bearish while trading below the 109.70 level, key support is found at the 109.35 and 109.00 levels.
The USDJPY pair is only bullish while trading above the 109.70 level, key resistance is found at the 110.00 and 110.30 levels.
