Can sellers find a breakthrough this time around?
Despite some decent movement in dollar pairs so far on the session, this is the spot to watch when it comes to the greenback and the yen in my view.
The pair has been choppy for several reasons over the past week or so, but technically price action is getting interesting now as we see yet another test of the 107.00 handle.
A firm break below the figure level and under the 1 April low @ 106.92 will open up a potentially bigger drop in the pair, with sellers likely eyeing the 105.00 handle next.
It is still too early to consider that as the dollar isn't exactly falling off a cliff just yet but if the more optimistic market mood keeps up, this could be what triggers the next key fall in the greenback over the next few sessions.
