The US dollar remains under downside pressure on Wednesday against the Japanese yen as bullish struggle to move price above the 109.00 level. The USDJPY pair could fall back towards the 107.60 level if bulls continue to struggle move price above this key technical area. If USDJPY bulls close the daily candle below the 107.60 level a further sell-off towards the 106.50 level could take place.
The USDJPY pair is only bearish while trading below the 109.00 level, key support is found at the 107.60 and 106.50 levels.
The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 110.00 and 111.70 levels.
