The US dollar has tumbled towards the 110.25 support level against the Japanese yen currency, after repeated technical failure around the 111.00 level. The USDJPY pair currently trades around the 110.46 level and is being supported by intraday strength in the greenback. Sellers will look for further losses towards the 110.00 level, while buyers will look to hold price above the 110.46 level.
The USDJPY pair is intraday bearish while trading below the 110.46 level, further downside towards the 110.00 and 109.54 levels remains possible.
If the USDJPY pair moves above the 110.46 level, buyers will likely test towards the 110.80 and 111.10 resistance levels.
