The US Dollar struggled to clear the main 106.40 and 106.50 resistance levels against the Japanese Yen. The USD/JPY pair started a fresh decline and traded below the 106.00 support zone.

The pair even broke the 105.80 support level and the 50 hourly simple moving average. Moreover, there was a break below a connecting bullish trend line with support near 105.93 on the hourly chart on FXOpen.

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The pair is currently trading in a bearish zone and it could continue to move down below 105.50. The next major support is near the 105.20 level, below which there is a risk of more losses towards the 105.00 level.

Conversely, the pair could climb back above the 106.00 level. In the mentioned case, it might make another attempt to clear the main 106.50 resistance level in the coming sessions.


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