USDJPY SELLING CONTINUES AFTER SOFTER U.S CPI
The U.S dollar has continued to move lower against the Japanese yen currency, after the United States economy posted weaker than expected monthly CPI Inflation data. The USDJPY pair currently trades around the 109.39 level, after finding strong interim technical support from the 109.19 level. Traders are likely to focus on the current unwinding in the value of the U.S dollar index, and the release of U.S Consumer Confidence data later today.
The USDJPY pair is bearish while trading below the key 109.39 level, key support is found at the 108.93 and 108.60 levels.
If the USDJPY trades back above the 109.39 level, traders may test back towards the 109.80 and 110.03 level.