USDJPY SELLING TO INCREASE BELOW 109.00 LEVEL
The US dollar has moved sharply lower against the Japanese yen, hitting 109.30, as risk-off trading sentiment spreads through financial markets. The USDJPY pair has tumbled lower during Friday’s European trading session, as investors move into the safety of the Japanese yen currency. Traders will likely remain focused on falling global equity markets and rising Italian bond-yields during the US trading session.
The USDJPY pair is intraday bearish while trading below the 110.00 level, key support is now found at the 109.00 and 108.62 levels.
Key intraday resistance for the USDJPY pair is currently located at the 110.25 and 110.40 levels.