USDJPY under pressure

The US dollar has slipped towards the worst levels of the week against the Japanese yen currency, despite a strong recovery in the greenback. Continued weakness below the 107.00 resistance level could see the USDJPY pair testing the 106.00 level. Technical analysis shows that a loss of the 106.00 support level could see the USDJPY pair quickly falling towards the 105.50 or 105.00 support zone.

• The USDJPY pair is only bearish while trading below the 108.00 level, key support is found at the 106.00 and 105.50 levels. 

• The USDJPY pair is only bullish while trading above the 108.00 level, key resistance is found at the 109.00 and 110.00 levels.