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 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.