USDJPY holding major support

The US dollar continues to trade in a narrow range against the Japanese yen currency as the risk-sensitive pair struggles with the 112.00 resistance level. Technical indicators on the daily time frame are starting to move lower as sellers attempt to move the USDJPY pair under the 111.90 level. Overall, the USDJPY pair has a strong bullish weekly trading bias while trading above the 111.30 support level.

• The USDJPY pair is intraday bullish while trading above the 111.90, key intraday resistance is found at the 113.00 and 113.90 levels.

• If the USDJPY pair trades below the 111.90 level, key intraday support is found at the 111.68 and 111.30 levels.