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Forex pairs in this Article » USD/JPY (San Francisco) - The US dollar has extended its decline against the Japanese Yen even more after the Fed keeping Bond buying rate rumors. The USD/JPY has declined 30 pips in the latest few minutes from 99.60 to break down the 99.50 and test July 22nd and 2-week lows at 99.15.

The Dollar was hurt by rumors about the Federal Reserve would keep its $85Bn monthly rate of its bond buying program in the next week policy meeting. In addition, the Fed is likely to discuss revising guidance on rates.

Currently, the USD/JPY is trading around 99.20, 1.05% negative on the day. The short term perspective is slightly bearish according to the trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.

Below the 99.15, next supports are at 99.00 and 98.85. On the upside, 99.50 becomes now into resistances ahead of 100.15 and 100.45.
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