USDJPY trade troubles
The US dollar is coming under pressure against the US dollar after China canceled its upcoming trade talks with the US negotiators. The USDJPY pair is likely to remain under further technical selling pressure while trading below the 107.70 resistance level. Overall, the 107.10 level is the current short-term bearish target, with the 106.90 level the extended downside target.
The USDJPY pair is only bullish while trading above the 107.70 level, key resistance is found at the 108.10 and 108.48 levels.
The USDJPY pair is only bearish while trading below the 107.70 level, key technical support remains at the 107.10 and 106.90 levels.