USDJPY remains vulnerable with eyes on lower prices in the days ahead. On the upside, resistance comes in at 105.50 level. Above this level will turn attention to the 106.00 level. Further out, we expect a possible move towards the 106.50 level. A cut through here will open the door for more gain towards the 107.00. On the downside, support comes in at the 105.00 level where a break will target the 104.50 level. Below that level will turn focus to the 104.00 level and then lower towards the 103.50 level. On the whole, USDJPY faces further downside pressure.
