USDJPY under pressure
The US dollar remains under pressure against the Japanese yen currency after the pair fell below the technically important 106.80 support level. Technical analysis shows that a break under the 106.80 support level could expose further USDJPY downside towards the 106.00 level. USDJPY bulls need to move the price back towards the 107.30 resistance level to stabilize the pair in the short-term.
The USDJPY pair is only bearish while trading below the 107.00 level, key support is found at the 106.60 and 106.20 levels.
The USDJPY pair is only bullish while trading above the 107.00 level, key resistance is found at the 107.30 and 107.50 levels.