The pair has recovered from an early test of 108.50 but sellers still lurk.
The early yen demand saw USDJPY drift down to look at the 108.50 bids/support but as that level held, along with EURJPY into 123.00 we've since seen a rally in all core pairs to a lesser or greater degree.
I highlighted the offers/res at 109.00 early in the session and we've posted 108.95 before retreating. The pair still looks underpinned so we should expect it to remain contained ahead of the US data kicking in at 12.30 GMT.
A break of 109.00 should target 109.20 with larger res/offers into 109.50
Currently 108.89
