The US dollar
is back under pressure against the Japanese yen currency on Tuesday after the pair found strong resistance from the 111.88 level. The sentiment towards the USDJPY
pair is intraday bearish
while price trades below the 111.60 technical level. If sellers can move price under the 111. 40
level they will trigger a head and shoulders
pattern with a downside projection of fifty points.
pair is bearish
while trading below the 111.60, key intraday support is found at the 111. 40
and 110.90 levels.
If the USDJPY
pair trades above the 111.60 level, key intraday resistance remains at the 111.88 and 112.00 levels.