The US dollar is struggling to move above the 108.80 level against the Japanese yen, leaving the pair under pressure going into the European trading session. The four-hour time frame is currently showing that a bearish head and shoulders pattern has formed. A sustained break under the 108.55 level will trigger the bearish pattern, with the 108.10 level the overall target.
• The USDJPY pair is only bullish while trading above the 108.55 level, key resistance is found at the 108.80 and 109.30 levels.
• The USDJPY pair is only bearish while trading below the 108.55 level, key technical support remains at the 108.10 and 107.90 levels
• The USDJPY pair is only bullish while trading above the 108.55 level, key resistance is found at the 108.80 and 109.30 levels.
• The USDJPY pair is only bearish while trading below the 108.55 level, key technical support remains at the 108.10 and 107.90 levels
