Downside risks dominated the USD/JPY currency pair lower during Friday’s trading session. As a result, the US Dollar fell by 91 pips or 0.83% against the Japanese Yen on Friday.
Currently, the exchange rate is trading near the lower line of a descending channel pattern and could be set for a breakout. If the breakout occurs, bears could target the 109.00 level within the following trading session.
However, if the channel pattern holds, a surge towards the 109.80 area could be expected today.
