USDJPY - Short - Continued Downtrend

We still see USDJPY moving lower as it has continued it's downtrend despite bouncing towards resistance at 105.4 on the back news surrounding a coronavirus vaccine and the subsequent stock market rally. Fears of the impact of a 2nd wave of the virus and expected US stimulus continue to put downward pressure on the currency pair as we anticipate prices to move lower towards support at 103.7.