USDJPY BULLISH PATTERN STILL WORKING
The US dollar has moved below the 112.00 level against the Japanese yen on concerns that US President Donald Trump will announce new trade tariffs on Chinese imports later today. Despite the move below the 112.00 support level, the USDJPY pair remains intraday bullish while trading above the 111.75 level. The bullish inverted head and shoulders pattern across the four-hour time frame suggests that price could reach the 113.00 level.
The USDJPY pair remains bullish while trading above the 111.75 level, key resistance is found at the 112.16 and 112.80 levels.
If the USDJPY pair moves below the 111.75 level, key support is found at the 111.37 and 110.90 levels.