USDJPY still bearish
The US dollar continues to struggle with the 109.00 resistance level against the US dollar, keeping the pairs overall short-term bearish trading bias intact. Sustained weakness below the 108.20 level will be the trigger for a bearish decline under the 107.90 technical area. Overall, short-term traders should watch for a sharp reversal in the USDJPY pair from current trading levels.
The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels.
The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 108.20 and 107.90 levels.