USDJPY 105.50 support
The US dollar has slipped to a new multi-month low against the Japanese yen currency, following a strong sell-off in the greenback yesterday. The USDJPY pair could fall towards the 105.50 support level if weakness persists below the 106.20 technical area. USDJPY dip-buyers may be looking to buy the pair from current levels in anticipation of a rally back towards the 107.00 area.
The USDJPY pair is only bearish while trading below the 106.80 level, key support is found at the 106.00 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 106.80 level, key resistance is found at the 107.20 and 108.00 levels.