The US dollar trades under pressure against the Japanese currency on Monday after the Chinese government imposed more trade tariffs on American agricultural goods. The USDJPY pair has a bearish intraday bias while trading below the 111.37 level. USDJPY sellers will need to break the 111.00 support level over the coming sessions or risk losing the current bearish trading momentum.
The USDJPY pair is intraday bearish while trading below the 111.37 level, key support is found at the 111.00 and 110.55 levels.
If the USDJPY pair trades above the 111.37 level, buyers will likely test towards the 112.05 and 112.80 resistance levels.
