USDJPY BACK UNDER BEARISH PRESSURE

The US dollar is once again under bearish pressure against the Japanese yen, as risk-off trading sentiment returns to financial markets. The USDJPY pair is trading under trendline support, following a minor technical correctional towards the pivotal 113.15 level. Traders now await a slew of high-impact economic data from the United States economy and a scheduled speech from FED Chair Jerome Powell.

• The USDJPY pair is strongly bearish while trading below the 112.50 level, key support is found at the 112.30 and 111.50 levels.

• If the USDJPY pair moves above the 112.95 level, key resistance is found at the 113.15 and 113.90 levels.