The second wave of COVID-19 in Europe and the record-breaking number of new cases and death toll in America revived the demand for defensive assets. This creates interest in safe havens, including the yen. This market sentiment may lead to a further decline of the pair.
Technical side:
The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is entering in the oversold zone. Stoch are already there and uninformative.
USDJPY rate online: monitor the price movement in real time.
Trading recommendations:
If the pair holds below 104.35, it will go further down to 104.00, and then to 103.65.