Today’s outlook for the USD/JPY pair remains steady. The pair is currently trading within a narrow range, showing signs of consolidation. The US dollar has been under pressure due to concerns about the economy, while the Japanese yen has been supported by safe-haven demand.
In terms of technical analysis, the pair is holding above the key support level of 108.00. If the pair manages to break above the resistance level of 109.00, we could see a further upside towards 110.00. On the downside, a break below 108.00 could lead to a retest of the 107.50 level.
Overall, the USD/JPY pair is likely to continue trading within its current range in the near term. Traders should keep an eye on key support and resistance levels for potential trading opportunities.