USDJPY under pressure
The US dollar has started to turn lower against the Japanese yen currency after the greenback came under pressure following the latest weekly jobs data from the US economy. The USDJPY pair could fall towards the 107.60 level if the 108.00 support level is broken. USDJPY traders should also note that a triangle pattern is starting to unfold across multiple time frames.
The USDJPY pair is only bearish while trading below the 108.90 level, key support is found at the 107.60 and 106.50 levels.
The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.40 and 111.00 levels.