U.S. dollar looks for support at 108.00 after getting smashed.

The U.S. dollar never recovered against the Japanese Yan after falling out of the longterm uptrend price channel highlighted in my previous analysis. The dollar attempted to break at 108.970 but was rejected as per previous attempts and took the final hit to the downside after sliding below 108.720 support.

The U.S. dollar slipped through four critical support price level indicated in my previous post at 108.720, 108.540, 108.330, and 108.00 during the European and U.S session and spent most of the Asian trading session around 108.00. The U.S. dollar could bounce back if it holds above 108.00 and breaks into the price channel highlighted on the chart. The first target is at around 108.220.