The US dollar has opened the trading week under pressure against the Japanese yen as Asian equity markets suffer early week losses. The USDJPY pair is likely to come under additional downside selling pressure if the 109.40 level is broken with conviction. If the USDJPY pair advances above the 110.00 level, buyers could force the price back towards the 110.30 technical level.
The USDJPY pair is bearish while trading below the 110.00, key intraday support is found at the 109.40 and 108.80 levels.
If the USDJPY pair trades above the 110.00 level, key intraday resistance is found at the 110.30 and 110.60 levels.