The greenback remains under downside pressure against the Japanese currency, as the US dollar index moves-away from a two-week trading-high. The USDJPY pair is likely to pick a directional-bias if price breaks from the 111.00 to 111.50 trading-range. USDJPY sellers will aim to target the 110.55 support level, while buyers will look to push price towards the 112.05 level.
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 111.50 and 112.05 resistance levels.
