USDJPY break down continues
The US dollar remains under heavy downside pressure against the Japanese yen currency after the pair fell towards the 105.20 support area during yesterday’s US session. Traders that are bearish towards the USDJPY pair may sell into any corrective moves above the 106.50 level. Technical analysis shows that the USDJPY pair is heavily bearish while trading under the 105.30 support level.
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 104.70 and 104.00 levels.