USDJPY buyers challenging 112.00 level
The US dollar is once again testing towards the 112.00 resistance level against the Japanese yen currency after the pair found strong buying interest from the 111.60 support level. If bulls can break above the 112.00 level, the 112.20 level offers the foremost technical resistance prior to the 112.80 level. Traders should note that overall risk-on trading sentiment remains weak due to weaker than expected Chinese economic data earlier today.
The USDJPY pair is intraday bullish while trading above the 111.60 level, key technical resistance is found at the 112.20 and 112.80 levels.
If the USDJPY pair trades below the 111.60 level, sellers may test towards the 111.40 and 111.12 support levels.