Downside risks pressured the US Dollar lower against the Japanese Yen on Thursday. AS a result, the USD/JPY currency pair fell by 112 pips or 1.01% during Thursday’s trading session.
By and large, the exchange rate is likely to continue to edge lower during the following trading session. The potential target for bearish traders will be near the 109.00 level.
However, the currency exchange rate could find support near the Fibonacci retracement level at 109.55 within this session.
