USDJPY currency pair trend

The short-term trend of the US dollar against the Japanese yen is neutral. The USDJPY pair is in the downtrend channel starting from 111.71. Hence, we can expect a deep downward movement from the market. If USDJPY falls below 103.31, it could prepare for a reversal to the 102.58 price floor. However, from the buyers' point of view, the break of 104.39 and the downtrend channel will mark the end of the downtrend starting from 111.71 and can push the USDJPY to the resistance of 105.67.