USDJPY HOLDS TRENDLINE SUPPORT
The US dollar has started to recover higher against the Japanese yen currency after sellers failed to break below critical trendline support during the European trading session. The USDJPY pairs directional bias is increasingly linked to US and Asian equity market. Buyers need to move price above the 112.87 resistance level, while sellers need to break well-defined trendline support.
The USDJPY pair is only bullish while trading above the 112.87 level, key resistance is now found at the 113.30 and 113.30 levels.
If the USDJPY pair trades below the 111.80 level, sellers will likely test the 111.60 and 111.10 support levels.