The US dollar is still unable to move higher against the Japanese yen currency as risk-off trading sentiment remains at elevated levels. Bulls need to move price above the 109.66 level to encourage additional technical buying towards the 109.80 level. Overall, sellers remain in control of the USDJPY pair and may test towards the 108.40 level if the 109.00 support level is broken to the downside.
The USDJPY pair is heavily bearish while trading below the 109.66 level, key support is found at the 109.00 and 108.40 levels.
If the USDJPY pair trades above the 109.66 level, key intraday resistance is found at the 109.80 and 110.00 levels.
