The US dollar is starting turn heavily bearish against the Japanese yen currency, following a strong downmove toward the 107.20 level. The USDJPY pair has staged a minor recovery as the US dollar index attempts to find its composure once again. Selling at a more attractive price is currently the main objective, with the 107.80 to 108.00 region the preffered area for fresh bearish attacks.
The USDJPY pair is bearish while trading below the 108.00 level, key support is found at the 107.20 and 106.80 levels.
The USDJPY pair is only bullish while trading above the 108.00 level, key technical resistance is found at the 108.23 and 108.45 levels.