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Forex pairs in this Article » EUR/USD, USD/JPY (Bali) - USD/JPY continues to struggle to regain the 105.00 handle, with the last disappointing ISM non-mfg data in the US triggering, yet again, another impulsive sell-off to new weekly lows at 103.90.

Nikkei the usual suspect to set directional bias in Yen crosses

Key for the directional bias of the USD/JPY in Asia, will be as usual, the performance by the Nikkei 225 - down 2.35% Monday - , with its technicals having deteriorated early this year. The decline in US yields - losing the 3% mark - paired with soft equities may weigh in sentiment.

USD/JPY stays below daily tenkan

USD/JPY is presently below the tenkan sen on the daily, yet still supported by a flat 20-day EMA. A loss of 103.80 - stop rumoured below 103.70 - may pave the way for 103.50 - daily kijun - ahead of deeper falls. On the upside, a recovery above the tenkan on the daily - 104.70 - ahead of 105.00 are the two key levels to be reclaimed for bulls to take control on price.
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