USDJPY 108.00 barrier
The US dollar is trading sideways against the Japanese yen currency as the pair struggles to break away from the 107.50 to 108.00 price range. Technical analysis shows that a bullish reversal pattern is pointing to more USDJPY gains towards the 109.00 resistance level. A loss of the 107.50 support level could encourage a minor decline in the pair back towards the 107.30 technical area.
The USDJPY pair is only bearish while trading below the 107.30 level, key support is found at the 107.00 and 106.80 levels.
The USDJPY pair is only bullish while trading above the 107.30 level, key resistance is found at the 108.00 and 108.40 levels.