USDJPY 106.00 in focus again

The US dollar is probing towards the 106.00 level against the Japanese yen, as risk-off trading sentiment still remains at elevated levels. A breakout below the 106.00 level should prompt a technical test towards the 105.50 support level. Overall, sell any moves higher in the USDJPY pair towards the 107.00 level still remain the preferred short-term trading strategy.

• The USDJPY pair is heavily bearish while trading below the 107.00 level, key support is found at the 105.50 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.