USDJPY faces further price recovery higher as it price extension. On the upside, resistance comes in at 109.00 level. Above this level will turn attention to the 109.50 level. Further out, we expect a possible move towards the 110.00 level. A cut through here will open the door for more gain towards the 110.00. Its daily RSI is bullish and pointing higher suggesting more strength. On the downside, support comes in at the 108.00 level where a break will target the 107.50 level. Below that level will turn focus to the 107.00 level and then lower towards the 106.50 level. On the whole, USDJPY faces further recovery threats in the days ahead.
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