USDJPY Upside Limited On Syrian Risks

USDJPY Upside Limited On Syrian Risks

The U.S dollar is struggling to gain traction above the 107.00 handle against the Japanese yen currency, as escalating tensions between the U.S and Russia in Syria weigh on risk sentiment. The USDJPY pair currently trades around the 106.90 level, after again finding strong technical support from the 106.60 region. Heading into the U.S trading session, potential military action from the United States in Syria is likely to keep the USDJPY pairs upside fairly limited.

The USDJPY pair is only intraday bullish while trading above the 106.60 level, key upside resistance is located at the 107.48 and 107.66 levels.

Should the USDJPY pair start to trade below the 106.60 level, key technical support is then found at the 106.30 and 106.00 levels.

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