USDJPY 106.40 still key
The US dollar continues to weaken against the Japanese yen currency, with the pair briefly dipping below the 107.00 support level. The 106.40 level is still the overview bearish target, with the USDJPY pair then forming a huge bearish pattern. Technical indicators remain extremely bearish on the four-hour time frame but still show few signs of recovery at this stage.
The USDJPY pair is only bearish while trading below the 107.80 level, key support remains at the 107.00 and 106.40 levels.
If the USDJPY pair trades above the 107.80 level, key technical resistance remains at the 108.00 and 108.55 levels.