• USD/JPY rose on Monday, as investors bought the greenback after a robust retail sales report on Friday increased appetite for riskier assets putting pressure on the Japanese yen. 
   
• The yen sank across the board as investors unwound a surge of safe-haven trades made on the back of an attempted military coup in Turkey.
   
• Further downside is expected to be limited as the pair finds strong support at 105.41 which should limit the slipping below and bring a rebound towards higher levels.
   
• To the upside, the strong resistance can be seen at 106.41, a break above this level would take the pair towards next resistance level at 107.00.
   
• To the downside immediate support can be seen at 105.91, a break below this level will open the door towards next level at 105.41.
  
  Resistance Levels
  
  R1: 106.41 (38.2% Retracement Level)
  
  R2: 107.00 (23.6% Retracement Level)
  
  R3: 107.46 (June 8th high)
  
  Support Levels
  
  S1: 105.91 (50% Retracement Level)
  
  S2: 105.41 (61.8% Retracement Level)
  
  S3:104.61(July 15th lows)