USDJPY WEAKNESS BELOW 113.40
The U.S dollar is trading marginally lower against the Japanese yen, with the pair still trading in lockstep with U.S Treasury bond yields. The USDJPY currently trades around the 113.30 level, with price-action creating a series of bearish lower price-highs on the lower time-frame price charts. Moving into the last trading session before the holiday season, traders look to the release of U.S macroeconomic data. Durable Goods Orders are expected to move higher month-on-month, whilst New Home Sales in the U.S are expected to come in slightly weaker for November.
The USDJPY pair is expected to weaken while trading below the 113.40 level, sellers are likely to push price towards the 113.10 and 112.70 support zones.
- Should price-action move above the 113.40 level again, buyers may push the USDJPY pair towards the 113.70 and 114 resistance zones.