The US dollar is back under heavy downside pressure against the Japanese yen currency equity markets starts to turn lower as optimism fades over a coming COVID-19 vaccine. The USDJPY pair is at risk of falling towards the 102.80 level while trading below the 104.50 level. The intraday analysis shows that the 103.50 level is the next key downside level to watch beneath the 104.00 level.
The USDJPY pair is only bearish while trading below the 104.50 level, key support is found at the 103.50 and 102.80 levels.
The USDJPY pair is only bullish while trading above the 104.50 level, key resistance is found at the 105.00 and 105.50 levels.
