The US dollar is struggling to move higher against the Japanese yen currency as trade tensions between the US and China continue to drive risk-off trading sentiment. The USDJPY pair has reversed from the 110.90 resistance level and may soon target the 110.25 level. If sellers move price below the 110.00 level the bullish inverted head and shoulders pattern on the four-hour time frame will be invalidated.
The USDJPY pair is bearish while trading below the 110.90, key intraday support is found at the 110.25 and 109.80 levels.
If the USDJPY pair trades above the 110.90 level, key intraday resistance is found at the 111.10 and 111.30 levels.
