The US dollar has recovered above the 110.40 resistance level against the Japanese yen, with the risk-sensitive pair so far finding weekly resistance from the 110.68 level. The USDJPY pair has a bullish intraday bias while trading above the 110.40 level, although major weekly resistance is located at the 1110.90 level. Technical indicators on the four-hour time frame have now corrected back towards neutral trading conditions.
The USDJPY pair is bullish while trading above the 110.40 level, key resistance is found at the 110.90 and 111.30 levels.
If the USDJPY pair trades below the 110.40 level, sellers may test towards the 110.00 and 109.70 support levels.
