USDJPY remains range bound
The US dollar remains range bound against the Japanese yen on Thursday, with buyers and sellers still battling for control of the risk-sensitive pair. The current trading range is between the 110.40 and 111.00 levels, with the USDJPY pair remaining neutral until a sustained breakout occurs. Traders now await the release of key inflation data from the German and United States economies.
The USDJPY pair is only bearish while trading below the 110.40 level, key technical support is found at the 110.10 and 109.60 levels.
If the USDJPY pair trades above the 111.00 level, buyers may test towards the 111.20 and 111.40 resistance levels.