USDJPY STILL UNDER PRESSURE BELOW 110.00 LEVEL
The US dollar continues to trade to the downside against the Japanese yen, with the pair confined to the bottom-end of its recent trading-range in thin market trading conditions. The USDJPY pair currently trades around the 109.40 level, with selling pressure still building while price trades below the key 110.00 level. Traders continue to look for any news regarding the upcoming meeting between North Korea and the United States.
The USDJPY pair remains bearish while trading below the 110.00 level, further losses towards 109.31 and 109.00 remains possible.
If USDJPY buyers can move the pair back above 110.00 level, we may see a correction back towards 110.33 and 111.00 levels.