• USD/JPY  has paused its declined as positive  US economic data released earlier in the US session limited the pairs downside.
   
• Further downside is expected to be limited as the pair finds strong support at 103.67 which should limit further decline and bring rebound towards higher levels in the short term.
   
• To the upside, the strong resistance can be seen at 105.10, a break above this level would take the pair towards next resistance level at 106.00.
   
• To the downside immediate support can be seen at 104.40, a break below this level will open the door towards next level at 103.67.
  
  Resistance Levels
  
  R1: 105.10 (38.2% Retracement Level)
  
  R2: 106.00 (23.6% Retracement Level)
  
  R3: 106.41 (July 25th high)
  
  Support Levels
  
  S1: 104.40 (50% Retracement Level)
  
  S2: 103.67 (61.8% Retracement Level)
  
  S3: 103.00 (Psychological levels)