USDJPY (108.70): The falling market sentiment was reflected in the USDJPY currency pair which was seen clearing the lower support level of 108.90. The current retracement at this level is expected to see 108.90 level being retested for resistance. To the downside, we can expect to see continued decline. The next main support level comes in at 107.64 which marks an unfilled gap from April 20, 2018. The downside bias will shift unless USDJPY posts a rebound above 108.90 and clearing the next resistance at 109.43 – 109.57.
