The US dollar is attempting to recover against the Japanese yen currency, following last weeks bearish price reversal under the 107.00 support level. The USDJPY pair could face further selling pressure this week, with key resistance located around the 107.10 area. If sellers move price under the 106.80 support level, then a deeper technical pullback towards the 106.20 area should be expected.
The USDJPY pair is only bearish while trading below the 107.10 level, key support is found at the 106.80 and 106.20 levels.
The USDJPY pair is only bullish while trading above the 107.10 level, key resistance is found at the 107.30 and 107.55 levels.
