USD/JPY: With the pair remaining weak and vulnerable, further weakness is likely in the days ahead. On the downside, support comes in 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 106.50 level.

Further out, we envisage a possible move towards the 107.00 level. Further out,  resistance resides at the 107.50 level with a turn above here aiming at the 108.00 level. On the whole, USD/JPY looks to build up on its price weakness.