The US dollar is trading around the 107.00 level against the Japanese yen currency after the pair found strong resistance from just above the 107.00 technical area. Buyers now need to overcome USDJPY pairs 50-day moving average, at 107.09, for further bullish advancement. To the downside, the 106.65 level is currently the strongest form of technical support on an intraday basis.
The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 107.09 and 107.50 levels.
The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.40 levels.
