The US dollar
has staged a strong upside recovery against the Japanese yen
currency, with the pair reaching its upside corrective target. The USDJPY
pair has a weekly bullish
bias while trading above the 110.60 level and may target the 111.00 level if buyers can maintain upside pressure. Technical failure around the 110.60 level will likely prompt a test of the 110.20 support level
pair is intraday bullish
while trading above the 110.66 level, key resistance is found at the 111.00 and 111.30 levels.
If the USDJPY
pair trades below the 110.60 level, key intraday support is found at the 110.20 and 109.80 levels.