The US dollar is struggling to move above the 108.80 level against the Japanese yen, leaving the pair under pressure going into the European trading session. The four-hour time frame is currently showing that a bearish head and shoulders pattern has formed. A sustained break under the 108.55 level will trigger the bearish pattern, with the 108.10 level the overall target.
The USDJPY pair is only bullish while trading above the 108.55 level, key resistance is found at the 108.80 and 109.30 levels.
The USDJPY pair is only bearish while trading below the 108.55 level, key technical support remains at the 108.10 and 107.90 levels
