USDJPY sell the rally
The US dollar is starting to test towards the 106.00 level against the Japanese yen currency, following a shift technical rejection from the 107.00 level. Any moves back towards the 107.00 level are likely to face another wave of heavy USDJPY technical selling. Overall, the short and medium-term trend remains bearish while price trades below the important 107.00 resistance level.
The USDJPY pair is heavily bearish while trading below the 107.00 level, key support is found at the 105.40 and 105.00 levels.
The USDJPY pair is only bullish while trading below the 107.00 level, key technical resistance is found at the 107.20 and 107.40 levels.