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.