The US dollar currency has moved sharply lower against the Japanese yen currency after the pair found strong selling interest from the 107.50 level. Technical analysis shows that a break under the 107.00 support level exposes further USDJPY downside towards the 106.60 level. USDJPY traders may look to sell any short-term rallies back towards the 107.30 resistance level.
The USDJPY pair is only bearish while trading below the 107.00 level, key support is found at the 106.60 and 106.20 levels.
The USDJPY pair is only bullish while trading above the 107.00 level, key resistance is found at the 107.30 and 107.50 levels.
