USDJPY MACD CONTINUES TO TREND LOWER
The US dollar remains under pressure against the Japanese yen currency, as traders await the release of Non-farm payrolls job report from the United States economy. The USDJPY pair has so far found support from the 110.40 level, with price managing a shallowing bounce higher. The MACD indicator across the four-hour time frame continues to trend level as the pair trades towards the worst levels of September.
The USDJPY pair is intraday bearish while trading below the 110.90 level, key support is now found at the 110.40 and 110.00 levels.
If the USDJPY pair moves above the 110.90 level, buyers will likely challenge towards the 111.10 and 111.70 levels.