Japanese yen declined slightly after the PMI data from Japan. The USDJPY pair reached a low of 106.39 from the previous high of 106.65.
The USDJPY pair came under fresh selling pressure and hit fresh session lows near 106.44 in early trades.
The US dollar has broken to the upside against the Yen, following a strong bid in the greenback after the FOMC rate decision.
The USDJPY pair will most likely be volatile over the next days as both the central banks are scheduled to decide about monetary policies.
USDJPY price is only bearish while trading below the 108.10 level, key support remains at the 107.80 and 107.00 levels.
USDJPY price is bearish while trading below the 107.80 level. Key support remains at the 107.00 and 106.40 levels. What is next?
USDJPY price attempts to retest the recent major broken support, 107.85, but the sellers were stronger enough to take price lower before even reaching it.