The US dollar is looking increasingly bearish against the Japanese yen currency and may be primed for further losses towards the 108.40 level. USDJPY bears may choose to sell into strength above the 109.00 level in expectation of the pair falling further. The Williams Alligator indicator on the four-hour time frame is issuing a strong sell signal while the pair holds under the 19.20 level.
The USDJPY pair is only bullish while trading above the 109.20 level, key resistance is found at the 109.40 and 109.80 levels.
The USDJPY pair is only bearish while trading below the 109.20 level, key support is found at the 108.45 and 107.90 levels.
