USDJPY STRONGLY BEARISH BELOW 105.50 LEVEL
The U.S dollar has continued to slide against the Japanese yen during the European trading session, with price-action falling to a new weekly trading-low around the 105.60 level. Selling momentum is building around the pair, with medium-term USDJPY bears eyeing further intraday losses below the 105.50 level. Traders now look to the release of the Jolts job opening report, which remains a key measure of United States employment the U.S Federal Reserve monitor closely.
- The USDJPY pair is likely to experience further losses below the 105.50 level, with key support then found at the 105.22 and 104.60 levels.
- If the USDJPY pair moves back above the 105.77 resistance level, buyers may move price-action back towards the pivotal 106.00 level.