The US dollar has come under further selling pressure against the Japanese yen, after US President Donald Trump canceled his upcoming meeting with the North Korean leader Kim Jong-Un. The USDJPY pair currently trades around the 109.50 level, after falling to the 108.93 level on Thursday, as traders sold the US dollar on the news. Traders now await the release of US Durable Goods Orders and a scheduled speech from Federal Reserve Chair Jerome Powell.
The USDJPY pair is further bearish while trading below the 109.50 level, key technical support is found at the 109.00 and 108.50 levels.
If USDJPY buyers hold price back above the 109.50 level, we may correct back towards the 110.00 and 110.33 levels.
