The US dollar has moved back under the 106.00 level against the Japanese yen currency after the greenback gave back a portion of its recent gains. Technical analysis on the lower time frames shows that the USDJPY pair is vulnerable to losses towards the 104.80 level if the 105.30 support level is broken. To the upside, if USDJPY bulls can anchor price above the 106.00 level then a technical test of the 106.60 level may take place.
The USDJPY pair is only bearish while trading below the 106.00 level, key support is found at the 105.30 and 104.80 levels.
The USDJPY pair is only bullish while trading above the 106.00 level, key resistance is found at the 106.60 and 107.00 levels
