The US dollar has come back under pressure against the Japanese yen currency after suffering a heavy technical rejection around the 109.00 level. The balance of power is with sellers while price trades below the rising trendline on the daily time frame. Overall, a break below the 108.20 support level exposes the USDJPY pair to further losses towards the 107.50 level.
• The USDJPY pair is only bullish while trading above the 108.68 level, key resistance is found at the 109.00 and 109.40 levels.
• The USDJPY pair is only bearish while trading below the 108.68 level, key technical support is found at the 108.20 and 107.50 levels.
• The USDJPY pair is only bullish while trading above the 108.68 level, key resistance is found at the 109.00 and 109.40 levels.
• The USDJPY pair is only bearish while trading below the 108.68 level, key technical support is found at the 108.20 and 107.50 levels.
