The US dollar remains under downside pressure against the Japanese yen, following the release of more weak data from the US economy. From a technical perspective, the USDJPY pair is extremely weak while trading below the 108.60 support level. Going forward, a break under the 108.20 level exposes the USDJPY pair to heavy technical selling towards the 107.50 level and possibly lower.
• The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.15 and 109.40 levels.
• The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
• The USDJPY pair is only bullish while trading above the 108.90 level, key resistance is found at the 109.15 and 109.40 levels.
• The USDJPY pair is only bearish while trading below the 108.90 level, key technical support is found at the 108.20 and 107.50 levels.
