After 4 days of consolidation in USDJPY and little net movement, levels above 104.00 attracted more significant selling interest yesterday. Negative divergence is being seen in strength indicators (RSI) and a more bearish tone has been added to with modest downside in Asia.
While it is too early to call a definitive top in place, intraday sentiment is now assessed as negative with potential to 103.56 and 103.34.