The US dollar has moved sharply lower against the Japanese yen currency, as the greenback comes under heavy selling pressure across the board. The USDJPY pair has now broken below trendline support, with price-action starting to turn heavily bearish. The Moving Average Convergence Divergence indicator on the four-hour time frame is also signaling that further downside is likely.
The USDJPY pair is strongly bearish while trading below the 113.15 level, key support is found at the 112.55 and 112.30 levels.
If the USDJPY pair moves above the 113.15 level, further upside towards the 113.80 and 114.00 levels remains possible.
