The U.S dollar has come under further bearish selling pressure against the Japanese yen, with investors moving into the perceived safety of the yen after the Trump Organization faced a subpoenaed from U.S investigators. The USDJPY pair has also come under pressure from technical sellers, as price-action was strongly rejected from key resistance around the 106.40 level. Traders now look towards the 106.00 level as a daily pivot point, ahead of high-impacting macroeconomic data from the United States economy later today.
The USDJPY pair is strongly bearish while trading below the 106.00 level, further losses towards the 105.50 and 105.22 levels appears increasingly likely.
Should the USDJPY pair maintain price-action above the 106.00 level, buyers may attempt a further test of the 106.45 resistance level.
