The US dollar is back under heavy selling pressure against the Japanese yen as traders move back into safe-haven currencies on Wednesday. The USDJPY pair is technically weak while trading below the 107.80 level and may test the 107.00 support region. The USDJPY pair is also ignoring strength in the US dollar index, with other major currencies falling against the US dollar.
The USDJPY pair is heavily bearish while trading below the 107.80 level, key support is found at the 107.00 and 106.40 levels.
If the USDJPY pair trades above the 107.80 level, key technical resistance is found at the 108.00 and 108.45 levels.
