The US dollar is trading sideways against the Japanese yen currency, as the pair awaits the outcome of the US Presidential debate. USDJPY bulls need to hold price above the 105.60 level to encourage a key technical test of the 106.00 resistance zone. To the downside, repeated failure to stage a breakout above the 105.40 level could cause the USDJPY to fall back towards the 104.60 area.
The USDJPY pair is only bullish while trading above the 105.20 level, key resistance is found at the 105.60 and 106.00 levels.
The USDJPY pair is only bearish while trading below the 105.20 level, key support is found at the 105.00 and 104.60 levels.