USDJPY 104.50 major support
The US dollar has continued trade lower against the Japanese yen currency, with the pair falling towards the 105.00 support zone. Technical analysis shows that the 104.50 level is the next major support zone to watch below the psychological 105.00 level. USDJPY bulls could rally the USDJPY pair back towards the 106.00 area if a strong technical bounce happens from the 104.50 level.
The USDJPY pair is only bearish while trading below the 105.70 level, key support is found at the 104.80 and 104.50 levels.
The USDJPY pair is only bullish while trading above the 105.70 level, key resistance is found at the 106.00 and 106.80 levels.