USDJPY still bearish
The US dollar is trading around the worst levels of the week against the Japanese yen currency, with the pair remaining technically bearish. A breakout under the 108.20 support level should expose the USDJPY pair too heavy selling towards the 107.50 level at a minimum. Only a recovery back above the 108.90 level will encourage short-term traders to buy the USDJPY pair.
The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.15 and 109.40 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.