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.