USDJPY Wide Range Seen

The US dollar is starting to recover above the 106.00 level against the Japanese yen currency as the greenback comes back into demand. The USDJPY pair is currently trapped within a wide-ranging triangle pattern between the 105.80 to 106.68 levels. Traders now should expect the USDJPY pair to test both sides of the triangle before making a definitive technical breakout.

The USDJPY pair is bearish while trading below the 105.80 level, key support is found at the 105.40 and 105.00 levels.

The USDJPY pair is only bullish while trading below the 106.68 level, key technical resistance is found at the 107.00 and 107.30 levels

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