USDJPY 103.50 possible
The US dollar has fallen to a multi-week low against the Japanese yen currency, with the pair sinking below the 105.00 support level. Technical analysis shows that a breakout from a large triangle pattern remains valid while the USDJPY pair trades below the 104.90 level. Overall, weakness towards the 103.50 level remains possible while the triangle breakout continues.
The USDJPY pair is only bullish while trading above the 105.80 level, key resistance is found at the 106.00 and 106.30 levels.
The USDJPY pair is only bearish while trading below the 105.80 level, key support is found at the 104.30 and 103.50 levels.