The US dollar is consolidating against the Japanese yen currency, with the pair trading in the middle of the rising price channel. The USDJPY pair currently has a neutral trading bias, a break from the 110.40 to 110.80 price range is needed for an intraday trend to be established. Traders now await the release of high-impact economic data from the United States economy this afternoon.
The USDJPY pair is only bullish while trading above the 110.80 level, key technical resistance is found at the 111.12 and 111.40 levels.
If the USDJPY pair trades below the 110.40 level, sellers may test towards the 110.24 and 110.10 support levels.
