USDJPY looks to extend recovery towards 107.93 zone in the days ahead. On the upside, resistance comes in at 107.93 level. Above this level will turn attention to the 108.50 level. Further out, we expect a possible move towards the 109.00 level. A cut through here will open the door for more gain towards the 109.50. On the downside, support lies at the 107.00 level where a break will target the 106.50 level. Below that level will turn focus to the 106.00 level and then lower towards the 105.50 level. On the whole, USDJPY faces further upside pressure in the days ahead.
