The US dollar remains bearish against the Japanese yen currency on Tuesday, as risk-off trading sentiment continues to dominate financial markets. The USDJPY pair is likely to weaken further while trading below the pivotal 111.39 resistance level. Sellers will continue to target further downside below the 110.70 level, while buyers will look to stabilize price back above the 111.39 level.
The USDJPY pair is bearish while trading below the 111.39 level, key support is found at the 110.70 and 110.10 levels.
If the USDJPY pair holds above the 111.39 level, buyers may test back towards the 112.20 and 112.80 levels.
