The U.S dollar has moved sharply lower against the Japanese yen currency during Friday’s Asian session, hitting 105.93, after President Donald Trump announced plans to place tariffs on Aluminum and Steel imports. The USDJPY pair easily broke below the key 106.60 support level, and currently trades close to the price-low of the week around the 106.00 handle. Traders now look towards the U.S dollar index’s reaction to the news in the upcoming European session, and yearly USDJPY price-low, found at 105.50.
The USDJPY pair is likely to experience further losses below the 105.93 level, key technical support is then found at the 105.50 and 105.00 levels.
Key intraday USDJPY resistance is now found at the 106.18 and 106.60 technical levels.
