USDJPY Still Bearish Below 110.55 Level

Technical analysis of Forex market

The US dollar is gradually moving higher against the Japanese yen currency, as optimism grows over low-level Sino-US trade talks in Washington. Despite the recent move higher, the USDJPY pair remains intraday bearish while price continues to trade below the 110.55 level. Traders now look to the FOMC Meeting Minutes and the outcome of Chinese and US trade talks.

The USDJPY pair is intraday bearish while trading below the 110.55 level, key support is found at the 109.80 and 109.00 levels.

If the USDJPY pair trades above the 110.55 level, buyers will likely test towards the 110.79 and 111.00 resistance levels.

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