The US dollar remains under heavy selling pressure against the Japanese yen, as risk-off trading sentiment spreads through broader financial markets. The USDJPY pair continues to fall lower and risks suffering deeper intraday losses below the 109.54 level. Traders remain focused on trade wars between the US and China, and will look to a key speech from FED Chair Jerome Powell later today.
The USDJPY pair is strongly bearish while trading below the 109.54 level, key technical support is found at the 109.19 and 108.63 levels.
If the USDJPY pair moves above the 110.00 level, key intraday resistance is found at the 110.28 and 110.48 levels.
