USDJPY risks still to the downside
The US dollar has staged a minor technical recovery against the Japanese yen during the European session as traders book profits ahead of the release of high-impacting US data. The balance of risks are still firming tilted to the downside while price trades below the 109.00 level. Overall, the USDJPY pair is increasingly likely to target towards the 107.40 support level this week.
The USDJPY pair is heavily bearish while trading below the 109.00 level, key support is found at the 108.00 and 107.70 levels.
If the USDJPY pair trades above the 108.70 level, key technical resistance is found at the 109.00 and 109.30 levels.