The US dollar has continued its recent sell-off against the Japanese yen currency during the European session, with the pair reaching the 104.70 support level. The short-term analysis shows that the pair is expected to experience further heavy losses while trading below the 105.10 level. Extended monthly support for the USDJPY pair is found at the 102.80 and 101.50 levels.
The USDJPY pair is only bullish while trading above the 105.10 level, key resistance is found at the 105.50 and 105.80 levels.
The USDJPY pair is only bearish while trading below the 105.10 level, key support is found at the 103.00 and 102.80 levels.
