At the previous trading session, the USD/JPY currency pair surpassed the 104.50 level. During Monday morning, the pair tumbled to the 102.30 mark.
From the one hand, it is likely that some downside potential could continue to prevail in the market. In this case the exchange rate could target the weekly S3 at 100.48.
On the other hand, a reversal north could occur in the short term. In this case the currency pair could face the resistance level formed by the weekly S1 at 104.07.
