USDJPY risk driven
The US dollar has staged a bearish reversal against the Japanese yen currency after US stock markets came under selling pressure yesterday. A break under the 106.90 support level exposes further losses down towards the 106.55 and possibly the 106.00 level. Overall, traders are expected to remain bearish towards the pair while risk-off trading sentiment increases.
The USDJPY pair is only bearish while trading below the 106.90 level, key support is found at the 106.55 and 106.00 levels.
The USDJPY pair is only bullish while trading above the 106.90 level, key resistance is found at the 107.80 and 108.00 levels.