USDJPY below key pivot
The US dollar is back under pressure against the Japanese yen currency, with the pair trading below the pivotal 109.00 level. The USDJPY was recently rejected from just below the 109.30 level as traders use any technical corrections as a chance to sell the pair. Market sentiment still remains weak due to coronavirus fear so the USDJPY pair could decline towards the 108.40 level
The USDJPY pair is only bearish while trading below the 109.30 level, key support is found at the 108.70 and 108.40 levels.
The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.70 and 110.20 levels.