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.