Japanese Yen Outlook Forex traders seem to be content in assuming that there is going to be stimulus coming out of the United States. This is showing up in the USD/JPY pair during the trading session on Wednesday, as we have seen the market break below the ¥105 level rather early in the day. That being said, the market looks as if it is ready to continue drifting towards the lows, something that I have been talking about for a while. To the downside, I believe that the ¥104 level is probably the next target, as it has caused a bounce the last couple of times we have been down there. Breaking through their opens up the possibility of a move down to the ¥102 level, which was an even more important support level in the past. That being said, I would not expect to move much lower than that before the Bank of Japan will start to take action.