USDJPY 109.00 pivotal

The US dollar has moved towards the 108.90 level against the Japanese yen currency, following bullish news towards an upcoming Sino-US trade deal. USDJPY bulls need to advance price above the 109.00 level to change the bearish short-term sentiment towards the pair. Overall, the USDJPY pair is still vulnerable to a decline towards the 107.50 level while trading under the 109.00 level.

•  The USDJPY pair is only bullish while trading above the 109.00 level, key resistance is found at the 109.30 and 109.60 levels. 

• The USDJPY pair is only bearish while trading below the 109.00 level, key technical support is found at the 107.90 and 107.50 levels.