The US dollar has had a fairly soft start to the new trading month against the Japanese yen currency, after the new Sino-US trade tariffs took effect over the weekend. The overall trading sentiment is fairly weak, which is keeping price contained below the 106.40 resistance level. Bulls need to launch price back above the 106.40 level to build on last weeks upside momentum.
The USDJPY pair is only bearish while trading below the 106.40 level, key technical support is found at the 106.00 and 105.50 levels.
The USDJPY pair is bullish while trading above the 106.40 level, key resistance is found at the 107.00 and 108.00 levels.
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