USDJPY range broken
The US dollar has finally broken to the downside against the Japanese yen currency, following a sustained period of range-bound trading. Technical analysis shows that bearish triangle pattern breakout remains valid while price trades below the 105.80 level. The USDJPY pair is now expected to weaken towards the 105.30 and possibly the 104.70 levels over the coming days.
The USDJPY pair is only bullish while trading above the 106.00 level, key resistance is found at the 106.20 and 106.40 levels.
The USDJPY pair is only bearish while trading below the 106.00 level, key support is found at the 105.30 and 104.70 levels.