USDJPY 109.80 now key
The US dollar continues to tumble lower against the Japanese yen on Wednesday as global equity markets come under a fresh round of selling pressure. The USDJPY pair is moving closer to the important 109.80 now that the 110.00 level support level has been broken. The bullish pattern on the four-hour time frame has now been invalidated by the recent drop in the USDJPY pair.
The USDJPY pair is heavily bearish while trading below the 110.25, key intraday support is found at the 109.80 and 109.50 levels.
If the USDJPY pair trades above the 110.25 level, key intraday resistance is found at the 110.80 and 111.10 levels.