The US dollar
has fallen to a fresh monthly trading low against the Japanese yen
currency after the Chinese government announced retaliatory measures to US trade tariffs. The 108.49 level is major weekly support if sellers move the USDJPY
pair below the 109.00 support level
. The USDJPY
pair offers only limited technical support until the 107.90 level if the 108.49 level is breached.
pair is heavily bearish
while trading below the 109.50, key support is found at the 109.00 and 108.49 levels.
If the USDJPY
pair trades above the 109.50 level, key intraday resistance is found at the 109.80 and 110.00 levels.