USDJPY bearish under 108.90
The US dollar has fallen back under the 108.90 level against the Japanese yen currency, making the pair technically bearish over the short-term. Continued weakness under this key area could provoke further losses towards the 108.20 level. The USDJPY pair could capitulate to technical selling if the 108.20 support level is broken.
The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.40 and 109.65 levels.
The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.