USD/JPY: The pair rallied on during Monday trading session today leaving risk of more strength on the cards. On the downside, support comes in at the 107.50 level where a break if seen will aim at the 107.00 level. A cut through here will turn focus to the 106.50 level and possibly lower towards the 106.00 level.
On the upside, resistance resides at the 108.50 level. Further out, we envisage a possible move towards the 109.00 level. Further out, resistance resides at the 109.50 level with a turn above here aiming at the 110.00 level. On the whole, USD/JPY looks to build up on price recovery in the days ahead.
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