The US dollar remains under pressure against the Japanese yen, following reports that the first phase of the Sino-US trade deal could be delayed until next year. The USDJPY pair is increasingly likely to test towards the 107.50 support level, with the 106.90 level extended weekly support. Going forward, USDJPY traders have few reasons to be bullish while price trades under the 109.00 level.
The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels.
The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 107.50 and 106.90 levels.
