The US dollar is still struggling against the Japanese yen currency as a bearish head and shoulders pattern continue to loom over the pair. Sustained weakness under the 108.10 resistance level is likely to keep the USDJPY pair under downside pressure in the short-term. A break under the former weekly low, around 107.50, should cause further technical selling.
The USDJPY pair is only bullish while trading above the 108.10 level, key resistance is found at the 108.35 and 108.60 levels.
The USDJPY pair is only bearish while trading below the 108.10 level, key support is found at the 107.50 and 106.50 levels.
