USDJPY STILL BEARISH BELOW 111.37 LEVEL

The greenback remains under downside pressure against the Japanese currency, as the US dollar index moves-away from a two-week trading-high. The USDJPY pair is likely to pick a directional-bias if price breaks from the 111.00 to 111.50 trading-range. USDJPY sellers will aim to target the 110.55 support level, while buyers will look to push price towards the 112.05 level.

• The USDJPY pair is intraday bearish while trading below the 111.37 level, key support is found at the 111.00 and 110.55 levels.

• If the USDJPY pair trades above the 111.37 level, buyers will likely test towards the 111.50 and 112.05 resistance levels.