USDJPY: Pulls Back, Weakens

Forex Trades • Jul 20, 2018 at 11:48 AM EDT

The USDJPY pair remains biased to the downside on further corrective weakness.

On the downside, support lies at the 112.00 level where a break if seen will aim at the 111.50 level. A cut through here will turn focus to the 111.00 level and possibly lower towards the 110.50 level. On the upside, resistance resides at the 113.00 level.

Further out, we envisage a possible move towards the 113.50 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. On the whole, USDJPY faces further downside pressure

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