USDJPY turning lower
The US dollar remains one of the weaker currencies against the Japanese yen on Monday with the pair trading around the 108.50 level. Technical selling below the 108.20 level this week should see the USDJPY pair falling towards the 107.50 support level. The lower time frames also show a bearish pattern, which indicates a possible drop towards the 107.00 support level this week.
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.