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Forex pairs in this Article » USD/JPY (Barcelona) - Having posted an overnight high at 103.09, USD/JPY drifted back into the European open to where it is currently trading at 102.94.

USD/JPY uninterested ahead of FOMC

With an empty Japanese economic calendar overnight, and only US CPI and some minor Japanese data standing between now and tomorrow’s FOMC, USD/JPY has been extremely lethargic, trading in a tight range in and around the 103 level for the best part of a day. Peter Fell of FXBeat notes that Exporter supply is clustered around 103.20-30, and Importer demand around 102.80-70.

What are today’s key USD/JPY levels and patterns?

Matt Bacon-Hall of FXBeat notes that should spot break out of its immediate range, resistance lies at 103.70 with various accounts on the offer, and support can be found at 102.40 where several stops commence. The daily pivot point can be found at 102.99, sith support below at 102.6650 (S1), 102.3150 (S2) and 101.9850 (S3), and resistance at 103.3450 (R1), 103.6750 (R2) and 104.0250 (R3). Several technical levels are found between 102.96-103.30 which could add additional resistance. A daily Hammer Candlestick pattern can also be seen.
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