The US dollar has fallen back towards the 109.00 support level against the Japanese yen currency after the greenback came under major selling pressure on Monday. Dip-buyers could still push the USDJPY pair back towards the 109.40 level, although USDJPY sentiment remains weak. A sustained breakout under the 108.80 support level should be heavily negative for the USDJPY pair.
The USDJPY pair is only bullish while trading above the 109.15 level, key resistance is found at the 109.40 and 109.65 levels.
The USDJPY pair is only bearish while trading below the 109.15 level, key technical support is found at the 109.00 and 108.80 levels.
