USDJPY 105.40 insight
The US dollar has fallen sharply lower against the Japanese yen currency, following reports that China may stop purchasing US agricultural products. The USDJPY pair has started to weaken below the 106.00 level and is extremely likely to test towards the 105.40 support level at some stage this week. Any technical corrections are likely to meet strong selling interest from the 107.00 area.
The USDJPY pair is heavily bearish while trading below the 106.60 level, key support is found at the 105.40 and 106.00 levels.
The USDJPY pair is bullish while trading below the 106.60 level, key technical resistance is found at the 106.82 and 107.00 levels.