The U.S dollar continues to trade to the downside against the Japanese yen currency, after being strongly rejected from the 109.39 level on Monday. The USDJPY pair currently trades around the 109.10 level, after sellers again pushed price back towards the key 109.00 level. Today USDJPY traders will look towards a scheduled speech from the Chairman of the U.S Federal Reserve, Jerome Powell, and U.S Job Openings data.
The USDJPY pair is likely to remain under pressure while trading below the 109.39 level, key intraday support is located at the 108.65 and 108.30 levels.
If the USDJPY pair moves above the 109.39 level, buyers may be encouraged to test the 109.50 and 110.00 levels.
