USD/JPY fell below 1-week lows during Asian session on the day amid deteriorated risk sentiment. Although, the pair managed to rebound some pips thereafter.
The pair is extending rejection of last week from 110.00 psychological level and is moving southward for the third consecutive session. Japanese Yen is gaining momentum as a safe haven after US Justice Dept charged China's Huawei with obstruction and fraud.
Meanwhile, dovish expectations of Fed keep the dollar bulls on backfoot. However, the downside for the pair is protected by 109.15 support.
Further fresh impetus will be provided by US consumer confidence index data due on the day in early NY session.
Technical Levels to Watch
Immediate support for the pair is at 109.15 ahead of 108.70 and then 108.30. On the flip side, any meaningful recovery will find fresh supply near 109.60 followed by 110.00 and then 110.60.
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