The US dollar has started to rise against the Japanese yen currency, due to broad-based strength in the greenback over renewed risk-off market sentiment. Traders that are bearish towards the USDJPY pair may look to sell into strength above the 105.00 price zone. The technical analysis highlights that the USDJPY pair could fall towards the 101.00 price over the medium-term.
The USDJPY pair is only bullish while trading above the 105.20 level, key resistance is found at the 105.40 and 105.80 levels.
The USDJPY pair is only bearish while trading below the 105.20 level, key support is found at the 104.00 and 103.50 levels.
