Lack of fresh steps to mitigate the monetary policy of the Bank of Japan continues to support the foreign exchange demand for the national currency, while as an early referendum in Britain's reluctance to risk traders could well provoke a collapse of the pair.
The pair is trading in a downward channel. The dollar remains under pressure, the local minimum is located at 103.96. The resistance is at 104.50, support - at 103.50.
MACD has decreased, which is a signal to sell. RSI is in the oversold zone. If the indicator remains in the current zone, will give the signal to sell. The pair is below the moving averages (50, 100, 200) on the 4-hour chart. The moving averages are pointing downwards
Forecast exchange rate USD / JPY today
USD / JPY The pair is trading under pressure against this background should be seen prices decline to 103.50.
Source Fort Financial Services