January 2, OctaFX – The US dollar is under heavy technical selling pressure against the Japanese yen currency after breaking below the important 109.76 support level.
USDJPY Technical Forecast: Major support level broken
Overall, further downside in the USDJPY pair remains likely while price trades below the psychological 110.00 level. The 109.35 level is the next key support level to watch before the 109.00 support level comes into play.
- The USDJPY pair is heavily bearish while trading below the 110.00 level, key technical support is found at the 109.35 and 109.00 levels.
- If the USDJPY pair trades above 109.76 level, buyers may test towards the 110.00 and 110.80 resistance levels.
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