USDJPY Oct 01

The USD/JPY violated the bullish channel on the hourly chart, which was extending its support around 107.950 area. On the 4 hour timeframe, the 20 and 50 moving averages are reflecting the bearish trend in the USD/JPY. The Japanese yen may find support at 107.750 against the U.S. dollar along with resistance at 108.465.