USDJPY INTRADAY BEARISH BELOW 112.20 LEVEL
The U.S dollar remains visibly weaker against the Japanese yen currency, as we finish the last full-trading day, ahead of the start of the Thanksgiving holiday in North America. Price-action is currently hovering around the 112 handle, after the pair was strongly rejected from the 112.50 zone in Tuesday trading. The USDJPY pair remains under pressure heading into the U.S session, despite buoyant global markets, an upcoming U.S rate hike and stable U.S treasury yields.
The USDJPY pair remains intraday bearish while trading below the 112.20 technical level. Further losses towards the 111.93 level and the pairs 200-day moving average, at 111.71 seem likely.
Should price-action move above the 112.20 level, buyers may start to push the pair towards the 112.47and 112.80 resistance points.