USDJPY under pressure
The US dollar is under pressure against the Japanese yen currency on Tuesday, following a bearish range breakout below the 109.00 support level. USDJPY sellers will now be targeting a sustained break under the technically important 108.20 support level. Failure to break under the 108.20 support level should provoke a short-term rebound back towards the 109.00 resistance level.
The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.70 and 110.00 levels.
The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 108.20 and 107.80 levels.