The US dollar is probing towards the 106.00 level against the Japanese yen, as risk-off trading sentiment still remains at elevated levels. A breakout below the 106.00 level should prompt a technical test towards the 105.50 support level. Overall, sell any moves higher in the USDJPY pair towards the 107.00 level still remain the preferred short-term trading strategy.
The USDJPY pair is heavily bearish while trading below the 107.00 level, key support is found at the 105.50 and 105.00 levels.
The USDJPY pair is only bullish while trading below the 107.00 level, key technical resistance is found at the 107.20 and 107.40 levels.
