The USDJPY may fall towards the 106.00 level.

The USDJPY has been in a 106.60-107.50 range for the last couple weeks. With the USD under pressure against most major currencies, the risk is increasing that the pair slips below the 106.60 level to test the 106.00 key support which has held the pair in May and late June. Bulls should be careful as USDJPY volatility may pick up soon.