The U.S dollar has moved sharply lower against the Japanese yen following the FOMC monetary policy decision, hitting 112.40. The USDJPY tumbled after the policy statement was released, after already being under selling pressure on Wednesday, following softer November CPI inflation figures from the U.S economy. The pair currently trades around the 112.70 technical level, managing just a marginal recovery from the weekly-low thus far. Heading into the U.S session, the dollar will again take center stage, as U.S Retail Sales and weekly jobs data is released.
The USDJPY pair remains strongly bearish while trading below the 113.10 technical level, intraday sellers may look to test the 112.40 and 112.00 technical support levels.
Should price-action on the USDJPY pair move above the 113.10 technical level, buyers may again test demand towards the 113.34 and 113.75 resistance levels.
