The US dollar is consolidating around the 106.00 level against the Japanese yen currency, as the pair awaits the release of the monthly US jobs report. The 105.70 level offers the strongest form of support for the USDJPY pair prior to the technically important 105.30 level. Traders that are bearish towards the USDJPY pair may be anticipating a breakout below the 105.00 support area.
The USDJPY pair is only bullish while trading above the 106.40 level, key resistance is found at the 106.60 and 107.00 levels.
The USDJPY pair is only bearish while trading below the 106.40 level, key support is found at the 105.70 and 105.30 levels.
