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USDJPY price analysis: Pair bearish below 107.80

USDJPY price analysis: Pair bearish below 107.80

28 June 2019, OctaFX – The US dollar is starting to slip lower on Friday against the Japanese yen after buyers failed to sustain the pair above the 108.00 level.

USDJPY technical analysis

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 remain extremely oversold, despite the earlier corrective move.

  • USDJPY price is bearish while trading below the 107.80 level, key support remains at the 107.00 and 106.40 levels.

  • If USDJPY price trades above the 107.80 level, key technical resistance remains at the 108.10 and 108.55 levels.

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