The US dollar is approaching critical support against the Japanese yen currency as the greenback start to fade across the board. USDJPY sellers could target the 105.50 support level if a breakout below the 107.00 level takes place. Short-term USDJPY bears are currently in full control while price trades under the 107.30 level.
The USDJPY pair is only bearish while trading below the 107.30 level, key support is found at the 107.00 and 105.50 levels.
The USDJPY pair is only bullish while trading above the 107.30 level, key resistance is found at the 108.00 and 108.40 levels.
