The US dollar remains vulnerable to technical selling against the Japanese yen currency, following last weeks heavily bearish price close. Traders may use any rallies above the 105.00 resistance level as a chance to enter back into the prevailing bearish trend. A sustained breakout below the 104.20 support level is likely to trigger heavy technical selling towards the 103.00 technical area.
The USDJPY pair is only bullish while trading above the 105.00 level, key resistance is found at the 105.20 and 105.60 levels.
The USDJPY pair is only bearish while trading below the 105.00 level, key support is found at the 103.50 and 103.00 levels.
