USDJPY Bearish reversal
The US dollar continues to slide lower against the Japanese yen currency, with the pair pressing towards the 105.00 technical support area. The USDJPY pair could fall back towards the 104.55 area if the 105.00 level is broken with conviction over the coming sessions. Only a move back above the 106.10 resistance level would cause traders to turn bullish towards the USDJPY pair.
The USDJPY pair is only bearish while trading below the 105.80 level, key support is found at the 105.00 and 104.55 levels.
The USDJPY pair is only bullish while trading above the 105.80 level, key resistance is found at the 106.10 and 106.30 levels.