The US dollar is back under pressure against the Japanese yen currency after the Chinese economy released much weaker than expected trade data for the month of December. The USDJPY pair is likely to come under selling pressure while trading below the pivotal 108.10. A break of the 107.75 support level exposes the pair to heavy technical selling toward the 107.00 level.

The USDJPY pair is bearish while trading below the 108.10 level, key technical support is found at the 107.75 and 107.10 levels.

If the USDJPY pair trades above the 108.10 level, buyers may test towards the 108.40 and 109.00 resistance levels.

- advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.