Sell USDJPY @ 105.00

Looking at recent price action, we are seeing prospects for the USDJPY to go lower from the 105.20-25 area. The pair has extended to the during the early European morning, however the fundamentals for a move higher are not substantial. The Bank of Japan did not hint at any new policy measures this morning, while in the U.S. we are not seeing any follow through with inflation, which could cause more than one rate hike.