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Forex pairs in this Article » USD/JPY (Barcelona) - The USD/JPY foreign exchange rate is last trading at 99.80, off fresh session highs at 99.87, while Nikkei index is up +0.43%.

USD/JPY more sideways expected

“We can expect more choppy sideways trade in USD/JPY between 99.00/100.20 (see chart) and a break will depend on what happens in the crosses,” said FXWW founder Sean Lee, who adds: “EUR/JPY is still very interesting from a technical perspective with the market trying to form a H&S topping formation.”

USD/JPY key technical levels

Immediate resistance to the upside for USD/JPY shows at recent session highs 99.87, followed by yesterday's highs at 99.96, and Monday's weekly highs at 100.54. To the downside, closest support lies at recent session lows 99.45, followed by Monday's/yesterday's lows at 99.03, and Tuesday's weekly lows at 99.88.
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