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USD/JPY was trading 0.14% lower on the day at 107.42 at around 05:15 GMT.
The pair regained positive traction on Tuesday after closing marginally higher in the previous session.
Fresh wave of the global risk-aversion, evident from a weaker trading sentiment around the equity markets, keeps downside pressure.
Major and minor trend for the pair are turning bearish as evidenced by GMMA indicator. RSI is below 50 and momentum strongly bearish.
The pair is hovering around 5-DMA and is extending consolidation below 200-DMA. Scope for downside resumption.
200-DMA is major resistance, break above will fuel upside in the pair. On the flipside, break below cloud will drag the pair lower.
On the data front, focus on U.S. Existing Home Sales (MoM)(Mar) for further impetus.
