The US dollar is moving closer to breaking down below the 105.00 level against the Japanese yen currency, as risk-off trading sentiment dominates market sentiment. A sustained move below the 105.00 level is likely to trigger further losses towards the 104.60 level. Overall, the technical situation is worsening for the USDJPY pair, which could force a much lower trading range.
The USDJPY pair is heavily bearish while trading below the 105.00 level, key support is found at the 104.60 and 103.80 levels.
The USDJPY pair is only bullish while trading below the 106.30 level, key technical resistance is found at the 106.60 and 107.00 levels
