The US dollar has continued to weaken against the Japanese yen during the European trading session, with price edging closer to the current weekly and monthly trading low. A break below the 110.26 support level is likely to prompt heavy technical selling towards the 110.00 level. USDJPY traders now look to the US equity market open and the release of important housing data from the US economy.
The USDJPY pair is heavily bearish while trading below the 110.26 level, key technical support is then found at the 110.00 and 109.76 levels.
If USDJPY pair trades above the 110.80 level, buyers may test towards the 111.00 and 111.35 resistance levels.
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A trader works on the floor of the New York Stock Exchange (NYSE) in New ...