USDJPY 104.50 support
The US dollar has fallen to a fresh multi-month low against the Japanese yen currency, as traders continue to sell any rallies above the 105.00 level. Technical analysis shows that a break under the 104.50 support level could trigger more selling towards the 103.80 level. Alternatively, if the USDJPY pair bounces from the 104.50 level then the pair could test towards the 106.00 level.
The USDJPY pair is only bullish while trading above the 105.40 level, key resistance is found at the 106.00 and 106.80 levels.
If the USDJPY pair trades below the 105.40 level, sellers may test towards the 104.50 and 103.80 levels.