The US dollar is starting to correct lower against Japanese yen currency on Tuesday, with the pair struggling to hold onto recent upside gains. The USDJPY pair is intraday bearish while trading below the 109.60 level and may eventually decline towards the 108.90 level, where a confluence of moving averages offer strong support. The decline is also supported by the MACD indicator on the four-hour time frame, as it is now trending lower.
The USDJPY pair is intraday bearish while trading below the 109.60 level, key technical support is found at the 109.10 and 108.90 levels.
If the USDJPY pair trades above the 109.60 level, buyers may test towards the 109.80 and 110.00 levels.