The US dollar is start to slip lower on Friday against the Japanese yen after buyers failed to sustain the pair above the 108.00 level. Continued weakness below the 107.80 level may see the USDJPY pair test back towards its current monthly trading low. Technical indicators on the daily time frame still remains extremely oversold, despite the earlier corrective move.
The USDJPY pair is bearish while trading below the 107.80 level, key support remains at the 107.00 and 106.40 levels.
If the USDJPY pair trades above the 107.80 level, key technical resistance remains at the 108.10 and 108.55 levels.
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