USDJPY FURTHER BEARISH BELOW 113.33
The U.S dollar continues to move lower against the Japanese Yen, as the U.S dollar index remains under selling pressure, following the Russian collusion story surrounding the Trump administration. The USDJPY pair currently trades around the 113.20 level, after the Bank of Japan announced no change in monetary policy in today's policy meeting. Investors now await the release of Consumer Confidence data from the U.S economy.
The USDJPY pair remains intraday bearish while trading below the key 113.33 level. Further declines towards 112.90 and 112.27 should be expected while trading below the 113.33 level. Extended intraday support is found at the 111.79 level.
Should the USDJPY trade back above the 113.33 level, further buying should be expected towards the 113.57 and 113.89 levels.