USDJPY TECHNICAL FAILURE WEIGHS ON PRICE
The US dollar is now testing support against the Japanese yen currency, after buyers failed to break above the former weekly trading high, around the 111.80 level. The intraday sentiment towards the USDJPY pair is currently neutral as price hovers are the 111.30 level. Sellers need to break the 110.90 support level to change the short-term sentiment to bearish, while buyers need to break above the 111.80 resistance area.
The USDJPY pair is only bearish while trading below the 110.90 level, key support is found at the 110.68 and 110.10 levels.
If the USDJPY pair breaks above the 111.80 level, buyers will likely test towards the 112.05 and 112.20 resistance levels.