USDJPY back to range trading
The US dollar is has moved back to range-bound trading conditions against the Japanese yen currency, despite US President Donald Trump extending trade talks between the Washington and Beijing. Technical failure before the 111.00 level has seen the USDJPY pair move back towards the lower end of its recent range, with the 110.60 level key support below. Price is also trading below a well-defined symmetrical triangle pattern on the four-hour time frame.
The USDJPY pair is only bullish while trading above the 110.80 level, key technical resistance remains at the 111.12 and 111.40 levels.
If the USDJPY pair trades below the 110.60 level, sellers may test towards the 110.40 and 110.24 support levels.