The US dollar remains vulnerable to further losses against the Japanese yen after the United States announced the start of fresh trade tariffs on Chinese imports this morning. The USDJPY pair is technically weak below the 110.00 level and could soon target the 108.80 level. The next downside technical breakout in the USDJPY pair will likely occur if the 109.40 support is broken.
The USDJPY pair is heavily bearish while trading below the 110.00, key intraday support is found at the 109.40 and 108.80 levels.
If the USDJPY pair trades above the 110.00 level, key intraday resistance is found at the 110.25 and 110.60 levels.
