USDJPY still under pressure
The US dollar remains under downside pressure against the Japanese yen currency on Friday following a sharp decline in US equity markets. The USDJPY pair is currently struggling to move above the 111.60 resistance level as overall risk sentiment is fairly subdued. Traders now await the release of the United States monthly jobs report, with expectations tilted to the upside.
The USDJPY pair is only bullish while trading above the 111.60, key intraday resistance is found at the 111.88 and 112.40 levels.
If the USDJPY pair holds below the 111.60 level, key intraday support is found at the 111.35 and 110.80 levels.