FURTHER USDJPY LOSSES EXPECTED BELOW 111.45
The U.S dollar continues to move lower against the Japanese Yen, with the pair again weakening back towards the 111.00 handle. Overall Japanese yen strength and a weakening U.S dollar index are weighing on the USDJPY pair on Friday, following the release of negative U.S PPI figures for the month of December. Price-action currently holds around the 111.20 region, with USDJPY traders now focused on the release of December CPI inflation data from the United States economy later today.
USDJPY sellers retain control of the pair while price trades below the 111.45 level, further intraday losses towards the 110.82 and 110.25 levels remains possible.
Should the USDJPY pair start to move above the 111.45 level, price-action may start to head towards the 111.78 and 112.03 levels.