USD/JPY Price Outlook The pair continues under broad-based selling pressure. Will the bulls be able to break the 109.90 key resistance level? USD/JPY Price Outlook: Under broad-based selling pressure The week, and month, started in favour of a broad-based USD weakness in the financial markets. Dragging the USD/JPY pair to test the 109.00 handle. The sellers appeared not only in the Forex sphere but in major benchmarks across the globe. Particularly in the European indexes, which posted fresh lows among recent trade war headlines. Also, the risk sentiment weighed on the price action and helped to give a boost to the JPY demand and other safe-haven assets. The spot is currently trading below the 50 SMA at the 4H chart and continues to hover below the 109.00 neighbourhood. There is an ongoing sentiment that a leg lower could happen in the coming hours, due to the latest developments in the trade front between China and the US.