USDJPY WEAKNESS EXPECTED BELOW 110.10
The US dollar has fallen to its lowest trading level against the Japanese yen currency since early July after US President Donald Trump criticized the Federal Reserve. The USDJPY pair retains a strong intraday bearish bias while trading below the 110.10 level. Sellers will try to target further losses towards the 108.15 level, as it represents the neckline of a head and shoulders pattern with a large downside projection.
The USDJPY pair is intraday bearish while trading below the 110.10 level, key support is now found at the 109.20 and 108.15 levels.
If the USDJPY pair trades above the 110.10 level, buyers will likely test towards the 110.30 and 110.55 resistance levels.