USDJPY Major breakout
The US dollar has staged a major technical breakout against the Japanese yen currency, with the pair falling below the 104.55 support level. Technical analysis shows that the USDJPY pair now has the potential to fall towards the 101.50 support area over the medium-term. Overall, watch out for the USDJPY pair to decline sharply while the price continues to trade below the 104.55 level.
The USDJPY pair is only bearish while trading below the 104.55 level, key support is found at the 103.00 and 101.50 levels.
The USDJPY pair is only bullish while trading above the 104.55 level, key resistance is found at the 105.10 and 105.50 levels.