USDJPY BEARISH BELOW 106.00 LEVEL
The U.S dollar has turned lower against the Japanese yen, following a major sell-off in global equity markets, with riskier assets and so-called FANG stocks leading the declines. The USDJPY pair is currently trading around the 105.90 level, after breaking lower during Monday’s U.S trading session and finding support from the 105.64 level. Traders now look to the European markets open, with the 105.50 level the next key support area USDJPY traders are watching.
The USDJPY pair is bearish while trading below the 106.00 level, key technical support is found at 105.50, 105.24 and 104.64 levels.
Should price-action move back above the 106.00 level, a correction towards the 106.45 and 107.00 levels cannot be ruled out.