The US dollar is coming under increasing pressure against the Japanese yen, with the pair falling to a fresh multi-week trading low. The USDJPY pair risks a deeper decline towards the 107.30 level if the 107.90 support level is broken over the coming sessions. Overall, USDJPY sellers now have the upper hand in the short-term while price trades below the 108.60 resistance level.
• The USDJPY pair is only bullish while trading above the 108.60 level, key resistance is found at the 109.00 and 109.30 levels. • The USDJPY pair is only bearish while trading below the 108.60 level, key technical support is found at the 107.90 and 107.30 levels