USDJPY ONLY INTRADAY BEARISH BELOW 109.54
The US dollar continues to fall to fresh weekly trading low against the Japanese yen currency, with the USD/JPY pair earlier hitting, 109.36. The USDJPY pair briefly moved above the 110.00 on comments from the Bank of Japan but the pair was quickly sold lower back towards the 109.54 level. Buyers will need to keep price above the 110.00 level, while sellers will need to hold price below the 109.54 level.
The USDJPY pair is intraday bearish while trading below the 109.54 level, further downside towards the 109.36 and 109.00 levels seems possible.
If the USDJPY pair moves above the 110.00 level, buyers will likely test towards the 110.25 and 110.40 resistance levels.