USDJPY INTRADAY BEARISH BELOW TRENDLINE
The US dollar is attempting to correct higher against the Japanese yen currency in early Monday trade after falling below trendline support. The USDJPY pair fell towards the 111.35 level after the key trendline break and remains intraday bearish while trading below the 112.00 level. Traders now look to the release of Core PCE data from the US economy later today, which is the Federal Reserve’s preferred measure of inflation.
The USDJPY pair is strongly bearish while trading below the 112.00 level, key support is now found at the 111.35 and 110.90 levels.
If the USDJPY pair trades above the 112.00 level, buyers will likely test the 112.18 and 112.45 resistance levels.