USDJPY: The pair sold off further on price weakness on Friday. On the downside, support lies at the 105.00 level where a break if seen will aim at the 104.50 level. A cut through here will turn focus to the 104.00 level and possibly lower towards the
103.50 level. On the upside, resistance resides at the 106.00 level. Further out, we envisage a possible move towards the 106.50 level. Further out, resistance resides at the 107.00 level with a turn above here aiming at the 107.50 level. On the whole, USDJPY faces further downside pressure.