Topic: USDJPY Triggers Corrective Recovery, Eyes 109.00 Zone

USDJPY: The pair saw a saw recovery during early trading today opening the door for correction in the days ahead. On the downside, support comes in at the 108.00 level where a break if seen will aim at the 107.50 level. A cut through here will turn focus to the 107.00 level and possibly lower towards the 106.50 level. On the upside, resistance resides at the 109.00 level. Further out, we envisage a possible move towards the 109.50 level. Further out, resistance resides at the 110.00 level with a turn above here aiming at the 110.50 level. On the whole, USDJPY now faces a recovery higher threats.

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