USDJPY 107.50 likely
The US dollar is trading under the 108.00 level against the Japanese yen currency as traders continue to sell any upside rallies in the pair. Market sentiment is extremely bearish due to geopolitical tensions, which indicates that further downside in the USDJPY pair appears likely. Bearish downside targets for the USDJPY pair are currently found at the 107.50 and 107.10 levels.
The USDJPY pair is only bullish while trading above the 108.20 level, key resistance is found at the 108.40 and 108.70 levels.
The USDJPY pair is bearish while trading below the 108.20 level, key technical support is found at the 107.50 and 107.10 levels.