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Jan 23, 2019
USDJPY slight bearish bias
The US dollar is struggling to find a directional bias against Japanese yen currency, as buyers and sellers continue to battle for control of the risk-sensitive pair. The USDJPY pair has a slight intraday bearish bias, after an earlier failed attempt at the 109.88 level created a bearish lower daily high. Overall, a break from the 109.14 to 109.88 price range is needed to provoke technical selling.
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The USDJPY pair is intraday bearish while trading below the 109.60 level, key technical support is found at the 109.14 and 108.90 levels.
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If the USDJPY pair trades above the 109.60 level, buyers may test towards the 109.88 and 110.40 levels.