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.