• The USD/JPY pair is trading around the 108.60 levels, as the pair recovered some ground on Friday after Japans finance ministers warned against rapid yen rise.
   
• The pair reached a daily high of 109.10 after the release of US positive data, but retreated towards 108.68 as the pair ran out of strength.
   
• The pair remains under bears control unless until it trades below 110.00 psychological levels, therefore it is good to sell this pair on rallies.
   
• To the upside, the strong resistance can be seen at 109.93, a break above this level would take the pair all the way towards 110.00 levels.
   
• To the downside immediate support can be seen 108.36, a break below this level will take the pair to next level at 107.97.
  
  Resistance Levels
  
  R1: 109.18 (61.8% Retracement Level)
  
  R2: 109.93 (April 7th high)
  
  R3: 110.00 (Psychological levsl)
  
  Support Levels
  
  S1: 108.36 (50% Retracement Level)
  
  S2: 107.97 (Daily lows)
  
  S2: 107.64 (April 7th lows)