The US dollar
has opened the trading week under pressure against the Japanese yen
as Asian equity markets suffer early week losses. The USDJPY
pair is likely to come under additional downside selling pressure if the 109.40 level is broken with conviction. If the USDJPY
pair advances above the 110.00 level, buyers could force price back towards the 110.30 technical level.
pair is bearish
while trading below the 110.00, key intraday support is found at the 109.40 and 108.80 levels.
If the USDJPY
pair trades above the 110.00 level, key intraday resistance is found at the 110.30 and 110.60 levels.