The US dollar is struggling to overcome the 109.00 level against the Japanese yen as the greenback is coming under pressure after extremely weak consumer spending data from the US economy. The USDJPY pair risks falling towards the 107.90 level if sellers hold price under the 108.60 level. Overall, caution is still advised as the USDJPY pair could test towards the 109.30 resistance area.
The USDJPY pair is only bearish while trading below the 108.60 level, key technical support remains at the 107.90 and 106.90 levels.
The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels
