USDJPY Bullish Divergence

The US dollar is attempting to recover higher against the Japanese yen currency after the pair found strong technical support just above the 109.50 level. The four-hour time frame is showing that bullish MACD price divergence had formed during last weeks price drop. Watch out for a recovery towards the 110.82 area in the USDJPY pair if the bullish price divergence starts to reverse.

The USDJPY pair is only bullish while trading above the 110.00 level, key resistance is found at the 110.50 and 110.82 levels.The USDJPY pair is only bearish while trading below the 110.00 level, key support is found at the 109.80 and 109.50 levels.

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