FXStreet reports that Credit Suisse analysts discuss USD/JPY prospects.

“USD/JPY continues its retreat following the completion of a minor top below 105.33 and this leaves the market approaching what we look to be better support at the near-term uptrend from early January and early January high at 104.40/26. Our bias remains to look for a fresh floor here for an attempt to turn higher again.” 

“Resistance is seen at 104.85 initially, above which should see a move back to 105.33 and then the 200-day average at 105.56. A close above here and then 105.77 is needed to reassert the recovery for the “measured wedge objective” at 106.95/107.05.”