Forex: USD/JPY capped at 80.35

FXstreet.com (Barcelona) - The USD/JPY has been steadily working it's way back from Friday's weekly low at the 80.00 technical barrier, adding nearly 40 pips before running into firm resistance recently at it's daily high of 80.35. The pair has been by-and-large neutral throughout the day, due to low volatility in light of few events on the economic calendar.

Still, the technical analysis team of Deltastock.com suggests an overall bearish trend: "The pair is in an uptrend from 76.67 low. Trading is situated below the 50- and 200-day SMA, currently projected at 82.25 and 83.95. The overall outlook remains bearish for 79.50 with an initial resistance at 80.50 and crucial area at 80.67."