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.
The USDJPY 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.