USD/JPY clings to 108.00

Despite broad weakness, USD/JPY has managed to regain the 108.00 level after marking fresh 17-month lows during the Asian session.

The pair bottomed out at 107.62 soon after the weekly opening, but recovered ground during the European session. However, with the upside being capped by 108.43, the pair was confined to a sideways phase around 108.00 over the last hours. At time of writing, USD/JPY is trading at 108.02, a few pips above its opening price.

USD/JPY levels to watch

In terms of technical levels, next supports are seen at 107.62 (2016 low, Apr 11), 107.09 (Oct 23 2014 low) and 105.19 (Oct 15 2014 low). On the other hand, resistances could be found at 109.10 (Apr 8 high), 109.90 (Apr 7 high) and 110.63 (Apr 6 high).