USDJPY Trades Towards Key Support

The US dollar continues to tumble against the Japanese yen currency, as investors fears grow over President Trump’s latest trade tariff threats to China and the World Trade Organization. The USDJPY pair has fallen towards the 110.70 support level and is fast approaching the key 110.55 level, which marks the neckline of a large head and shoulders pattern across the higher time frames.

The USDJPY pair is strongly bearish while trading below the 110.55 level, key support is found at the 110.00 and 109.75 levels.

If the USDJPY pair moves above the 111.10 level, buyers may test towards the 111.39 and 110.80 resistance levels.