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USDJPY Intraday Recovery Remains Weak

The US dollar is attempting to move higher against the Japanese yen currency as demand for the greenback returns after early week selling. The short-term recovery in the USDJPY pair remains fairly muted, given the recent decline towards the 110.26 level. Intraday buyers will likely aim for the 110.80 resistance level, while sellers need to break the current weekly trading low to encourage further technical selling.

The USDJPY pair remains bearish while trading below the 110.80 level, key technical support is found at the 110.26 and 109.76 levels.

If the USDJPY pair trades above 110.80 level, buyers may test towards the 111.00 and 111.44 levels.

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