The US dollar has fallen sharply lower against the Japanese yen currency, as financial markets remain nervous over global trade tariff wars on Monday. The USDJPY pair has fallen well below the former weekly trading-low and risks deeper losses towards the 109.00 level while trading below the key 109.54 support zone. Traders now look towards the release of key US New Home Sales Data and the next large directional move in the US Dollar Index.
The USDJPY pair is strongly bearish while trading below the 109.54 level, further downside towards the 109.00 and 108.20 levels seems possible.
If the USDJPY pair moves back above the 110.00 level, buyers will likely test towards the 110.40 and 110.75 resistance levels.
