The US dollar has fallen back towards the 110.00 level against the Japanese yen currency, as the greenback comes under heavy selling pressure. The USDJPY pair is currently testing demand around the 110.00 level, after finding weekly technical resistance from the 110.84 level. Traders now look towards key Retail Sales data from the American economy, and the upcoming Bank of Japan Monetary Policy Decision.
The USDJPY pair is intraday bearish while trading below the 110.26 level, key technical support is now found at the 109.60 and 109.19 levels.
If the USDJPY pair moves above the 110.26 level, buyers may test toward the 110.68 and 110.81 levels.
