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Support Level of 108.00 on USD/JPY Might Give Way

The descent on the US dollar versus the Japanese yen reached the important target of 108.12, a level that represents a weekly support area. But certain factors point to the fact that, this time, the support might would not hold its ground.

One Last Chance for the Bulls on USD/JPY

Under the 110.27 support area and still with an overall bullish bias, the US dollar versus the Japanese yen currency pair has what it takes for yet another upwards move.

The USD/JPY Currency Pair Is Apparently Under Bearish Pressure

Last week, the appreciation of the Japanese yen took price under the supportive trendline of the ascending trend that started at the beginning of 2019.

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