USD/JPY Price Analysis: Dollar off three-year lows vs. yen, trades sub-104.00 figure

 

 

USD/JPY is bouncing from three-year lows well below the simple moving averages (SMA) as the equity markets worldwide are recovering after a strong selloff on Monday. 

 

 

USD/JPY is consolidating the recent massive drop below the 105.00 figure. The sellers stay in control and a break below the 103.60 support should extend losses towards the 103.00 and 102.74 levels, according to the Technical Confluences Indicator.