USD/JPY challenging daily lows at 108.00
USD/JPY is testing the daily lows near 108.00 handle, looking for further direction. The pair has retraced lower amid drop in US yields. Global markets have experienced sour risk sentiment on the day after downbeat Chinese trade figures released.
Further fresh impetus will be provided by Philly Fed manufacturing index due on the day.
Levels to Consider
Immediate support lies at 108.00 handle ahead of 107.50 and then 106.75. On the flip side, immediate resistance lies at 109.00 handle ahead of 110.26 and then 111.00 handle.