The US dollar is struggling to find direction against the Japanese yen currency, with the pair trapped between the 107.00 to 108.00 level. Technical analysis shows that if price breaks below the 107.25 support level then the USDJPY pair could fall towards the 106.50 level. A breakout above the 108.00 level is currently required to ignite a bullish reversal pattern on the lower time frames.
The USDJPY pair is only bearish while trading below the 107.25 level, key support is found at the 106.90 and 106.50 levels.
The USDJPY pair is only bullish while trading above the 107.25 level, key resistance is found at the 108.00 and 108.30 levels.
