The US dollar is under increasing downside pressure against the Japanese yen currency as global equity markets and the greenback falter over recent US data misses. The 106.90 level is now the key support region that bears must break to force a further decline toward the 105.50 level. Overall, the USDJPY has a strong intraday bearish bias while trading below the 107.45 level.
The USDJPY pair is only bearish while trading below the 107.45 level, key technical support remains at the 106.90 and 106.35 levels.
The USDJPY pair is bullish while trading above the 107.45 level, key resistance is found at the 107.70 and 108.00 levels.
