The US dollar has broken above the 107.00 level against the Japanese yen currency as the recovery from the 106.20 area continues to take hold. The USDJPY is expected to find strong dip-buying demand if any pullbacks towards the 106.80 level take place. USDJPY volatility is expected later, as the United States economy releases a raft of top-tier economic data points this afternoon.
The USDJPY pair is only bearish while trading below the 106.80 level, key support is found at the 106.60 and 106.20 levels.
The USDJPY pair is only bullish while trading above the 106.80 level, key resistance is found at the 107.20 and 107.50 levels.
