The US dollar is attempting to correct higher against the Japanese yen currency after finding strong technical support from the 111.30 level. The USDJPY pair is attempting to correct higher, with the 111.80 level the strongest form of near-term resistance. The MACD indicator on the four-hour time frame is still bearish and pointing to further downside.
The USDJPY pair is only bullish while trading above the 111.60, key intraday resistance is found at the 111.80 and 112.40 levels.
If the USDJPY pair trades below the 111.60 level, key intraday support remains at the 111.30 and 110.90 levels.
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