USDJPY FALLS UNDER TRENDLINE SUPPORT

The US dollar has broken to the downside against the Japanese yen, following a strong move lower in US equity markets on Wednesday. The USDJPY pair has broken below key trendline support from the well-defined rising wedge pattern on the four-hour time frame. Additional intraday selling pressure will be placed on the USDJPY pair if price trades below the 112.94 support level.

• The USDJPY pair is intraday bearish while trading below the 113.89 level, key technical support is now found at the 113.28 and 112.94 levels.

• If the USDJPY pair trades above the 113.70 level, buyers may test the 113.89 and 114.19 resistance levels.