USDJPY watching 105.20
The US dollar has given back its weekly gains against the Japanese yen currency, as the greenback comes under pressure against most major currencies. The USDJPY pair is now at risk of falling under the 105.00 level again if the 105.20 support area is broken. The key downside target for the USDJPY pair over the medium-term horizon is located at the 104.80 and 103.50 levels.
The USDJPY pair is only bearish while trading below the 106.00 level, key support is found at the 105.20 and 104.80 levels.
The USDJPY pair is only bullish while trading above the 106.00 level, key resistance is found at the 106.50 and 106.80 levels.