USD/JPY chart - Trading View
USD/JPY was trading 0.02% lower on the day at 103.77 at around 04:55 GMT, extending previous session's weakness.
The pair has failed to hold early gains and has retraced from session highs at 103.98, outlook remains bearish.
Price action continues to drift lower within its recent bearish channel, suggesting further losses are likely.
Bouts of strength on the back of positive vaccine news seem to be short-lived. Markets weigh long-term economic impact from the pandemic.
Investors now assume that the Federal Reserve would boost monetary stimulus, compensating for the lack of effort on the fiscal front, keeping the dollar depressed.
Little support for the pair till 101.70 (Trendline). On the flipside, 5-DMA is immediate resistance at 104.17. Bearish invalidation only above daily cloud.


FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD bulls gain momentum on hot U.S. Jobs data
FxWirePro: GBP/USD falls to two-week low on strong US jobs data
FxWirePro: USD/CAD extends gains as U.S. dollar gains momentum after strong U.S. NFP data
FxWirePro: EUR/AUD jumps as payrolls surprise fuels upside
FxWirePro- Major Crypto levels and bias summary
BTC Cracks Below $65K: Sell the Rip as Iran Tensions and ETF Bleeding Fuel Bears
FxWirePro: AUD/USD softens as risk appetite abates
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/USD neutral in the near-term, scope for downward resumption
FxWirePro: USD/ZAR bears maintain upper hand
GBPJPY Claims 215: Sterling Bulls Forge Ahead with Locked-In Momentum
FxWirePro: GBP/NZD stuck in narrow range , outlook bearish
FxWirePro: EUR/AUD holds narrow range, focus on near-term support
AUDJPY Reclaims 114: Bears Growl in the Short Term, But Bulls Hold the Line
FxWirePro USD/CAD steadies around 1.3910,retains bid tone
FxWirePro: EUR/NZD tight ranges prevail as market waits for fresh catalyst 



