USDJPY HEAD AND SHOULDERS UNDERWAY
The USDJPY pair is coming under pressure as traders move into the safety of the Japanese yen currency, amidst concerns about financial contagion from Turkey. intraday pressure is likely to remain on the USDJPY pair while price trades below the 110.55 level.
The USDJPY pair is while trading below the 110.55 level, key support is now found at the 109.56 and 109.00 levels.
If the USDJPY pair trades above the 110.55 level, buyers could test towards the 110.80 and 111.10 resistance levels.