The US dollar trades close to the 113.00 support level against the Japanese yen currency, as risk-off trading sentiment continues to worsen. Short-term sellers remain in control, with downside pressure likely to increase if price breaches Monday’s trading low. Overall, USDJPY buyers still need a decisive move above the 113.75 level, pushing price back inside the rising price channel.
The USDJPY pair is intraday bearish while trading below the 113.75 level, key support is found at the 112.75 and 112.30 levels.
If the USDJPY pair moves above the 113.75 level, buyers will likely test towards 114.06 and 114.58 levels.
