The U.S dollar remains under selling pressure against the Japanese Yen, after two strong technical price rejections from the 113.68 level. The USDJPY pair currently trades around the 113.30 level, as the U.S dollar index continues to drive intraday trading sentiment. The macro-economic calendar remains light today, with the absence of data in the U.S session, traders will look to Federal Reserve speakers and the next directional move in the U.S dollar index.
The USDJPY pair remains intraday bearish while trading below the 113.68 level. Further downside losses towards the 112.89 and 112.28 levels appears likely.
Should the USDJPY pair hold price-action above the 113.68 level for an extended period, further upside towards the 114.04 and 114.50 levels seems possible.
