USD/JPY gains bearish traction in the near-term, could lose 105

The USD/JPY pair is poised to extend its decline, trading near its daily low. The 4-hour chart shows that the pair has broken below its 20 SMA, although the longer ones maintain their bullish slopes below it. Technical indicators head south near oversold readings without signs of bearish exhaustion.

Support levels: 105.30 104.95 104.50

Resistance levels: 105.60 105.95 106.30