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.