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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY saw a quick drop and fell to fresh daily lows during the American afternoon as repeated failure to consolidate above the 105.00 mark and stocks slide weighed on the pair.

The USD/JPY bottomed out at 104.57, roughly the same level it did yesterday, before bouncing and recovering some ground. At time of writing, the USD/JPY is trading at the 104.80 zone, virtually unchanged on the day as investors gear up for Friday's nonfarm payrolls report.

USD/JPY levels to watch

In terms of technical levels, the USD/JPY could face immediate resistances at 105.00 (psychological level), 105.11 (Jan 8 high) and 105.44 (2014 high Jan 2). On the flip side, supports are seen at 104.573 (daily low), 104.60 (100-hour SMA), 104.06/00 (Jan 3 low/psychological level).
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