USDJPY upside failure
The US dollar has come back under pressure against the Japanese yen currency after suffering a heavy technical rejection around the 109.00 level. The balance of power is with sellers while price trades below the rising trendline on the daily time frame. Overall, a break below the 108.20 support level exposes the USDJPY pair to further losses towards the 107.50 level.
The USDJPY pair is only bullish while trading above the 108.68 level, key resistance is found at the 109.00 and 109.40 levels.
The USDJPY pair is only bearish while trading below the 108.68 level, key technical support is found at the 108.20 and 107.50 levels.