USD/JPY remained under heavy selling pressure for the third straight session on Wednesday. The prevalent bearish sentiment around the USD was seen as a key factor exerting pressure. The risk-on mood did little to impress bulls or lend any support ahead of the US data, FOMC. The USD/JPY pair dived to seven-week lows during the mid-European session, with bears now awaiting some follow-through selling below the key 105.00 psychological mark. The pair extended its recent bearish trajectory and witnessed some heavy selling for the third consecutive session on Wednesday amid the prevalent selling bias surrounding the US dollar. Given that the Fed has shown readiness to tolerate above-target inflation for some time, expectations that the US central bank will maintain an ultra-accommodative policy stance continued weighing the greenback. The ongoing downfall seemed rather unaffected by the upbeat market mood, which tends to undermine demand for the safe-haven Japanese yen. The global risk sentiment remained well supported by renewed optimism over a potential COVID-19 vaccine, especially after AstraZeneca resumed the phase-3 trials for its vaccine candidate. Meanwhile, the latest leg of a sudden fall over the past hour or so could further be attributed to some technical selling below the Asian session swing lows support, near the 105.25 region. That said, the downside is likely to remain limited ahead of the key central bank events – the FOMC on Wednesday and Thursday’s BoJ decision. In the meantime, Wednesday’s release of the US Monthly Retail Sales figures will be looked upon for some short-term trading opportunities. Barring any major divergence from the expected figures, the data is more likely to pass unnoticed and overshadowed by some repositioning trade ahead of the highly anticipated FOMC decision. Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD seen trading at 0.65 on a three-month view – Rabobank FX Street 2 years USD/JPY remained under heavy selling pressure for the third straight session on Wednesday. The prevalent bearish sentiment around the USD was seen as a key factor exerting pressure. The risk-on mood did little to impress bulls or lend any support ahead of the US data, FOMC. The USD/JPY pair dived to seven-week lows during the mid-European session, with bears now awaiting some follow-through selling below the key 105.00 psychological mark. The pair extended its recent bearish trajectory and witnessed some heavy selling for the third consecutive session on Wednesday amid the prevalent selling bias surrounding the US dollar. Given that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.