The US dollar has moved sharply lower against the Japanese yen currency, hitting 109.74, as risk-off trading sentiment spreads through financial markets. The risk-sensitive USD/JPY pair tumbled, following a speech from US President Donald Trump, who struck a more cautious tone towards his upcoming meeting with North Korea. Downside pressures are likely to build around the USDJPY pair while price trades below the key 110.03 technical level.
The USDJPY pair is strongly bearish while trading below the 110.03 level, key support is now found at the 109.41 and 109.00 levels.
If the USDJPY pair moves back above the 110.03 level, buyers may then test towards the 110.50 resistance level.
