The US dollar is attempting to recover higher against the Japanese yen currency, following a pullback towards the 103.60 level. The USDJPY pair took a tumble below the 104.00 level after US bond yields starting to fall, following recent strong gains. Technical analysis highlights the 104.50 level as a key breakout zone and one which could cause the USDJPY pair to surge.
The USDJPY pair is only bullish while trading above the 104.00 level, key resistance is found at the 104.30 and 104.50 levels.
The USDJPY pair is only bearish while trading below the 104.00 level, key support is found at the 1043.60 and 103.60 levels
