USDJPY SELLING PREFERRED BELOW 110.00
The US dollar continues to trade in an increasingly narrow trading range against the Japanese yen currency, as investors await key US economic data. The USD/JPY pair remains weak while trading below the 110.00 level, as trade tariff tension between the United States and China linger. Buyers need to once again move price above the 110.00 level, while sellers will need to keep price below the 109.54 level.
The USDJPY pair is intraday bearish while trading below the 110.00 level, further downside towards the 109.54 and 109.00 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.