USDJPY NOW CORRECTING LOWER
The US dollar has started to correct lower against the Japanese yen currency, after numerous technical failures around the 114.00 resistance level. The USDJPY pair is now trading towards the 113.60 support zone, as the lower time frame, bearish MACD divergence starts to unwind. Sellers will aim for the 113.30 support level, while buyers will look to reclaim the 113.80 level.
The USDJPY pair is only bullish while trading above the 113.80 level, key resistance is now found at the 114.06 and 114.43 levels.
If the USDJPY pair moves below the 113.60 level, key support is found at the 113.30 and 112.92 levels.