The US dollar
has opened the new trading monthly strongly against the Japanese yen
after a positive outcome from the G20 leaders meeting over the weekend. The 109.00 resistance level
still remains the overall upside short-term objective for USDJPY
bulls this week. USDJPY
sellers may attempt to enter around this area, following the heavily bearish
candle formation on the monthly time frame.
pair is only bearish
while trading below the 108.10 level, key support remains at the 107.80 and 107.00 levels.
If the USDJPY
pair trades above the 108.10 level, key technical resistance remains at the 108.44 and 109.00 levels.