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Forex pairs in this Article » USD/JPY (New York) - The USD/JPY technical pair has refused to break out thus far, preferring to maintain a sideways movement Tuesday.

USD/JPY sideways trading

The USD/JPY pair has been trading sideways to start off Asian trading Tuesday, oscillating a meager 21 pips thus far (97.65 – 97.85). Presently, the foreign exchange rate is now trading at 98.72 or +0.01% thus far. analysts calculate the next resistances for the pair at 98.86, onto 99.42, and 100.39. Briefing a decline or break lower, a movement below the 97.32 handle will initiate support at 96.35 and 95.79.

USD/JPY a buy on dips to 95.00 barrier

According to Sean Callow, a Global FX Strategist at Westpac, “The base of the USD/JPY is building due to Fed tapering and the LDP victory at Sunday's Tokyo metropolitan assembly election. The Upper House election only 4 weeks away and with it greater chance that the 3rd arrow will gain momentum – we like buying dips in USD/JPY toward 95.00.”
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