USDJPY AWAITS HIGH IMPACT US ECONOMIC DATA
The USDJPY pair has been moving in a tight range between 110.85 and 111.10 ahead of high impact data being released in the U.S session later.
Later today U.S consumer confidence and personal spending data will be released, with FOMC voting member Brainard also speaking later today.
The Japanese Yen currency has so far failed to capitalize on the earlier bullish momentum seen in the Asian session, and is currently consolidating gains just below the 111 level.
Short term indicators remain neutral to slightly bearish, with USDJPY vulnerable to more losses whilst trading beneath the 111 level.
Short term support is located at 110.86 and 111.77, with further losses towards 110.50 possible once trading below 111.77.
H1 moving average indicators highlight further downside whilst trading below 111.09, with price recently rejected from the 20 period moving average at the mentioned level.
Further resistance can also be found at the H1 50 period moving average at 111.20 and finally the H1 100 period moving average 111.45.