USDJPY UPSIDE LOOKS INCREASINGLY WEAK
The US dollar is starting to weaken against the Japanese yen currency, following another major technical rejection before the 114.00 resistance level. The recent bullish momentum is starting to look increasingly weak, with a major test of key support now the most likely scenario. Traders now look to the release of the ISM Manufacturing Index from the United States economy.
The USDJPY pair is intraday bearish while trading below the 113.15 level, key support is found at the 112.85 and 112.30 levels.
If the USDJPY pair trades above the 114.00 level, key technical resistance is found at the 114.54 and 115.00 levels.