USDJPY 108.20 pivotal
The US dollar remains under pressure against the Japanese yen currency on Monday as traders remain concerned about rising tensions between the United States and Iran. The recent breakout under the 108.20 level has caused traders to turn more bearish towards the USDJPY pair. Watch for continued losses in the USDJPY pair while price trades under the 108.20 level.
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 only bearish while trading below the 108.20 level, key technical support is found at the 107.50 and 107.10 levels.