The US dollar is under slight downside pressure against the Japanese yen currency, following a heavy technical rejection from the 107.00 resistance area. Bears could now target the 104.80 area in anticipation that the USDJPY pair will start to weaken. Traders that a bullish towards the USDJPY pair may await a confirmed daily price close above the 107.00 resistance area.
The USDJPY pair is only bullish while trading above the 106.20 level, key resistance is found at the 106.80 and 107.00 levels.
The USDJPY pair is only bearish while trading below the 106.20 level, key support is found at the 105.80 and 104.80 levels.
