USDJPY bears have the edge
The US dollar remains under pressure against the Japanese yen currency in early Tuesday trade as short-term sellers remain in control of the pair. Should we see price contained below the 107.00 level USDJPY sellers could easily target the 105.50 support level this week. Any price movement above the 107.00 level is expected to find strong resistance from the 107.20 to 107.30 level technical area.
The USDJPY pair is only bearish while trading below the 107.00 level, key support is found at the 106.00 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 107.00 level, key resistance is found at the 107.30 and 108.00 levels.