USDJPY Testing 105.00
The US dollar has fallen sharply lower against the Japanese yen currency, following the news that President Trump has tested positive for COVID-19. The technical analysis highlights the 104.60 level as the next major downside target if sellers gain momentum below the 105.00 level. To the upside, failure to break under the 105.00 level could provoke a rebound towards the 105.60 area.
The USDJPY pair is only bearish while trading below the 105.60 level, key support is found at the 105.00 and 104.60 levels.
is only bullish while trading above the 105.60 level, key resistance is found at the 105.80 and 106.00 levels.