USD/JPY: The dollar weakens on higher equities, oil prices

From fxstreet.com

The dollar accelerated lower in early US session trading on Tuesday, repeating the pattern from the previous day. Fresh strength of equities following shallow pullback and higher crude oil prices deflate greenback for the second straight day. Reversal pattern is developing on daily chart and profit-taking after nearly 4% advance in March could help pullback. Fresh bears broke below psychological 110 support (reinforced by rising 10DMA) and hit one week low (109.66) with close below 110 needed to confirm initial bearish signal. Next key support lays at 109.38 (Fibo 38.2% of 108.40/110.96) and firm break here to risk ... (full story)