The US dollar is struggling to find a clear directional bias against the Japanese yen currency after the pair suffered a strong technical rejection from the 105.00 level. The USDJPY pair could test back towards the 105.00 level if sellers fail to hold price below the pivotal 104.50 level. Sustained weakness below the 104.50 level could see the USDJPY pair slipping towards the 103.80 level.
The USDJPY pair is only bearish while trading below the 104.50 level, key support is found at the 104.00 and 103.80 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.
