USDJPY MAY WEAKEN TOWARDS 110.00
The US dollar continues to trade lower against the Japanese yen currency after news broke that the Bank of Japan may start to review its ETF purchases. The USDJPY may continue to weaken towards the 110.00 level, as sentiment towards the pair remains bearish. Traders now look to the release of key U.S. Durable Goods Orders data from the United States economy later today.
The USDJPY pair is strong bearish while trading below the 110.87 level, key support is found at the 110.25 and 110.00 levels.
If the USDJPY pair trades back above the 110.87 level, buyers may push the price back towards the 111.20 and 111.37 levels.