The US dollar is under pressure against the Japanese yen currency as fears over the coronavirus has sent the pair under key support. The USDJPY pair could start to fall towards the 109.00 support level now that the 109.70 level has been broken. A move back towards the 109.00 support level could present an excellent buying opportunity for traders that are bullish towards the USDJPY pair.
The USDJPY pair is only bearish while trading below the 109.70 level, key support is found at the 109.30 and 109.00 levels.
The USDJPY pair is only bullish while trading above the 109.70 level, key resistance is found at the 110.20 and 111.00 levels.
