The US dollar appears increasingly weak around the 109.00 against the Japanese yen currency, as fears surrounding the coronavirus remain at elevated levels. Traders may look to sell the USDJPY pair around current levels in anticipation of further losses. Any moves back towards the 109.30 resistance level may be seen as a major selling opportunity by USDJPY short-term bears.
The USDJPY pair is only bearish while trading below the 109.30 level, key support is found at the 108.70 and 108.40 levels.
The USDJPY pair is only bullish while trading above the 109.30 level, key resistance is found at the 109.70 and 110.20 levels.
