HomeContributorsTechnical AnalysisUSDJPY Intraday Bearish Below 113.40

USDJPY Intraday Bearish Below 113.40

The U.S dollar has fallen sharply from the 114.10 level against the Japanese Yen during the Asian session, hitting 113.24, after buyers failed to hold onto the 114 level, and traders book intraday profits from elevated levels. The USDJPY pair is currently trading around the 113.30 level, as investors await the release of key U.S PMI Manufacturing and Services data later today.

The USDJPY pair is intraday bearish while trading below the key 113.40 technical level. Further declines can be seen towards 113.10 and 112.89 while price-action trades below the 113.40 level. Extended support is found at 112.29.

If price-action moves back above the 113.40 technical level, further USDJPY buying should be seen towards the 113.59 and 113.88 levels.

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