USDJPY STRUGGLING FOR DIRECTION
The US dollar is holding above the 111.00 level against the Japanese yen currency, although price continues to struggle to find a directional bias. Buyers need to hold price above the 111.39 level for further bullish advancement, while intraday sellers need to hold price below the 110.70 level to change the sentiment surrounding the USDJPY pair bias to bearish.
The USDJPY pair is only intraday bullish while trading above the 111.39 level, key resistance is found at the 111.50 and 112.05 levels.
If the USDJPY pair moves below the 110.70 level, sellers will likely test towards the 110.40 and 110.00 support levels.