USDJPY at a turning point
The US dollar remains at a critical juncture against the Japanese yen currency, with price trading dangerously close to the 106.82 support level. If bulls continue to defend the 106.82 level, the USDJPY pair could bounce back towards the 107.50 price region. A bearish move below the 106.82 level is likely to prompt a major technical test of the 106.40 support level later today.
The USDJPY pair is only bullish while trading above the 108.00 level, key resistance is found at the 108.80 and 109.30 levels.
The USDJPY pair is bearish while trading below the 108.00 level, key technical support is found at the 106.82 and 106.40 levels.